SR Bancorp (NASDAQ:SRBK) Posts Earnings Results, Beats Estimates By $0.01 EPS

SR Bancorp (NASDAQ:SRBK - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01, Zacks reports. SR Bancorp had a return on equity of 1.27% and a net margin of 5.82%.The business had revenue of $8.36 million for the quarter, compared to analyst estimates of $8.50 million.

SR Bancorp Stock Performance

Shares of SRBK stock opened at $19.19 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.04 and a current ratio of 1.04. SR Bancorp has a 52 week low of $12.30 and a 52 week high of $19.61. The company's 50 day moving average price is $17.30 and its two-hundred day moving average price is $16.42. The company has a market capitalization of $159.95 million, a P/E ratio of 53.31 and a beta of 0.48.

SR Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, March 31st. SR Bancorp's dividend payout ratio (DPR) is 47.62%.

Insider Buying and Selling at SR Bancorp

In other news, CFO Harris M. Faqueri acquired 3,000 shares of SR Bancorp stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $16.40 per share, with a total value of $49,200.00. Following the completion of the transaction, the chief financial officer directly owned 13,000 shares of the company's stock, valued at approximately $213,200. This represents a 30.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 5,570 shares of company stock valued at $91,978 in the last ninety days. 7.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SR Bancorp

Several large investors have recently made changes to their positions in SRBK. Geode Capital Management LLC lifted its stake in SR Bancorp by 94.5% in the 2nd quarter. Geode Capital Management LLC now owns 187,005 shares of the company's stock valued at $2,525,000 after purchasing an additional 90,873 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in SR Bancorp by 28.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 63,891 shares of the company's stock worth $1,006,000 after acquiring an additional 14,183 shares during the last quarter. Covalent Partners LLC grew its holdings in SR Bancorp by 49.0% in the 4th quarter. Covalent Partners LLC now owns 60,000 shares of the company's stock valued at $944,000 after buying an additional 19,740 shares in the last quarter. Marshall Wace LLP bought a new position in SR Bancorp during the 2nd quarter worth $434,000. Finally, Panagora Asset Management Inc. lifted its holdings in shares of SR Bancorp by 16.2% during the fourth quarter. Panagora Asset Management Inc. now owns 28,404 shares of the company's stock worth $447,000 after buying an additional 3,950 shares in the last quarter. Institutional investors and hedge funds own 24.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of SR Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research 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. According to MarketBeat, SR Bancorp has an average rating of "Moderate Buy" and an average 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.