SR Bancorp (NASDAQ:SRBK) Posts Earnings Results

Key Points

• SR Bancorp reported a quarterly earnings per share (EPS) of $0.06 with a revenue of $7.97 million and a return on equity of 1.74%.
• The company declared a quarterly dividend of $0.05 per share, translating to an annualized yield of 1.4%.
• Insiders, including CEO William P. Taylor, purchased a total of 10,500 shares recently, indicating confidence in the company's future performance.

SR Bancorp (NASDAQ:SRBK - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, Zacks reports. SR Bancorp had a return on equity of 1.74% and a net margin of 7.70%. The firm had revenue of $7.97 million for the quarter.

SR Bancorp Stock Up 0.4%

SRBK stock traded up $0.05 during midday trading on Wednesday, hitting $14.08. The company's stock had a trading volume of 19,668 shares, compared to its average volume of 48,655. The company has a market cap of $126.72 million, a PE ratio of 32.00 and a beta of 0.59. SR Bancorp has a 12 month low of $9.65 and a 12 month high of $14.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm's 50-day moving average is $13.62 and its 200-day moving average is $12.79.

SR Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.20 annualized dividend and a yield of 1.4%. SR Bancorp's dividend payout ratio is 45.45%.

Insider Activity at SR Bancorp

In related news, insider David M. Orbach bought 5,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $13.19 per share, for a total transaction of $65,950.00. Following the purchase, the insider owned 193,032 shares in the company, valued at approximately $2,546,092.08. This represents a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William P. Taylor bought 2,000 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the chief executive officer owned 72,838 shares in the company, valued at approximately $946,894. The trade was a 2.82% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 10,500 shares of company stock worth $137,315 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SR Bancorp

A hedge fund recently bought a new stake in SR Bancorp stock. Jane Street Group LLC acquired a new stake in shares of SR Bancorp, Inc. (NASDAQ:SRBK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 22,062 shares of the company's stock, valued at approximately $263,000. Jane Street Group LLC owned about 0.24% of SR Bancorp as of its most recent SEC filing. Institutional investors own 24.70% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised SR Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday.

About SR Bancorp

SR Bancorp, Inc operates as the holding company for Somerset Regal Bank that provides customary retail and commercial banking services to individuals, businesses, and local municipalities in the communities of Somerset, Middlesex, Hunterdon, and Essex counties in New Jersey. It offers deposit instruments, including noninterest-bearing demand deposits, interest-bearing demand accounts, savings accounts, money market accounts, and certificates of deposit.