SR Bancorp (NASDAQ:SRBK) Releases Earnings Results, Hits Expectations

SR Bancorp (NASDAQ:SRBKGet 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

A number of institutional investors have recently added to or reduced their stakes in SRBK. Barclays PLC increased its position in shares of SR Bancorp by 6.3% during the 4th quarter. Barclays PLC now owns 11,601 shares of the company’s stock valued at $183,000 after purchasing an additional 688 shares during the period. Nuveen LLC lifted its holdings in shares of SR Bancorp by 5.3% in the fourth quarter. Nuveen LLC now owns 21,051 shares of the company’s stock valued at $331,000 after buying an additional 1,065 shares during the period. BNP Paribas Financial Markets boosted its stake in SR Bancorp by 142.1% during the third quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock valued at $36,000 after buying an additional 1,381 shares in the last quarter. Wells Fargo & Company MN boosted its stake in SR Bancorp by 41.1% during the fourth quarter. Wells Fargo & Company MN now owns 8,287 shares of the company’s stock valued at $130,000 after buying an additional 2,412 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in SR Bancorp by 76.2% during the third quarter. JPMorgan Chase & Co. now owns 6,576 shares of the company’s stock worth $99,000 after acquiring an additional 2,843 shares during the period. 24.70% of the stock is currently owned by institutional investors and hedge funds.

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

(Get Free Report)

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.

See Also

Earnings History for SR Bancorp (NASDAQ:SRBK)

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