SR Bancorp (NASDAQ:SRBK) Announces Earnings Results

SR Bancorp (NASDAQ:SRBK) posted its quarterly earnings results on Tuesday. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Zacks reports. The business had revenue of $8.36 million for the quarter, compared to analysts’ expectations of $8.50 million. SR Bancorp had a return on equity of 1.27% and a net margin of 5.82%.

SR Bancorp Price Performance

Shares of SRBK stock traded up $0.14 during trading hours on Thursday, hitting $19.33. The stock had a trading volume of 45,005 shares, compared to its average volume of 39,543. SR Bancorp has a one year low of $12.30 and a one year high of $19.61. 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 stock’s 50-day moving average price is $17.30 and its two-hundred day moving average price is $16.42. The stock has a market capitalization of $161.12 million, a price-to-earnings ratio of 53.69 and a beta of 0.48.

SR Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, March 31st. SR Bancorp’s payout ratio is 47.62%.

Insider Activity

In other news, CFO Harris M. Faqueri bought 3,000 shares of SR Bancorp stock in a transaction dated Monday, March 16th. The shares were purchased at an average cost of $16.40 per share, with a total value of $49,200.00. Following the completion of the acquisition, the chief financial officer owned 13,000 shares of the company’s stock, valued at $213,200. This trade represents a 30.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 5,570 shares of company stock valued at $91,979 over the last quarter. Insiders own 7.82% of the company’s stock.

Institutional Investors Weigh In On SR Bancorp

Several large investors have recently made changes to their positions in SRBK. BNP Paribas Financial Markets increased 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 worth $36,000 after acquiring an additional 1,381 shares during the last quarter. Bank of America Corp DE increased its stake in SR Bancorp by 4,158.2% during the second quarter. Bank of America Corp DE now owns 3,364 shares of the company’s stock worth $45,000 after acquiring an additional 3,285 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in SR Bancorp during the second quarter worth approximately $50,000. Russell Investments Group Ltd. bought a new stake in SR Bancorp during the third quarter worth approximately $53,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in SR Bancorp during the second quarter worth approximately $58,000. 24.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised SR Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

SR Bancorp Company Profile

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.