SR Bancorp (NASDAQ:SRBK – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13, FiscalAI reports. The firm had revenue of $8.58 million for the quarter, compared to the consensus estimate of $8.60 million. SR Bancorp had a net margin of 6.39% and a return on equity of 1.41%.
SR Bancorp Price Performance
Shares of SR Bancorp stock traded up $0.34 on Tuesday, hitting $19.61. The company had a trading volume of 16,968 shares, compared to its average volume of 42,457. SR Bancorp has a 52 week low of $13.55 and a 52 week high of $20.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $158.84 million, a PE ratio of 46.69 and a beta of 0.55. The business has a 50-day simple moving average of $19.03 and a 200-day simple moving average of $17.91.
SR Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from SR Bancorp’s previous quarterly dividend of $0.05. SR Bancorp’s dividend payout ratio (DPR) is currently 57.14%.
Institutional Investors Weigh In On SR Bancorp
Analyst Ratings Changes
SRBK has been the topic of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of SR Bancorp in a research note on Monday, June 29th. Hovde Group boosted their price objective on SR Bancorp from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised SR Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, SR Bancorp presently has an average rating of “Moderate Buy” and an average price target of $19.00.
Check Out Our Latest Analysis on SR Bancorp
SR Bancorp announced that its Board of Directors has authorized a share repurchase program on Thursday, May 21st that authorizes the company to repurchase 801,320,000,000 shares. This repurchase authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
About SR Bancorp
SR Bancorp, Inc is a bank holding company that provides a broad array of banking and financial services through its wholly owned subsidiary. The firm focuses on serving community markets and maintaining close relationships with individuals, small businesses and local institutions.
Its product suite includes traditional deposit accounts such as checking and savings, certificates of deposit and money market accounts. On the lending side, SR Bancorp offers consumer, residential mortgage and commercial loans, as well as specialized lending solutions for small and mid-sized businesses.
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