SR Bancorp (NASDAQ:SRBK) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

SR Bancorp (NASDAQ:SRBK) posted its quarterly earnings results on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01), Zacks reports. SR Bancorp had a net margin of 6.39% and a return on equity of 1.41%. The company had revenue of $8.58 million during the quarter, compared to the consensus estimate of $8.60 million.

SR Bancorp Stock Up 1.8%

SR Bancorp stock opened at $19.61 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.27. SR Bancorp has a 1-year low of $13.55 and a 1-year high of $20.20. The firm’s fifty day simple moving average is $19.06 and its 200-day simple moving average is $17.94. The company has a market capitalization of $158.84 million, a P/E ratio of 46.69 and a beta of 0.55.

SR Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.06 per share. This is a positive change from SR Bancorp’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, June 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. SR Bancorp’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SRBK. Hovde Group raised their target price 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. Wall Street Zen upgraded SR Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SR Bancorp in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, SR Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Hedge Funds Weigh In On SR Bancorp

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of SR Bancorp by 142.1% in the third quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock worth $36,000 after buying an additional 1,381 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of SR Bancorp by 4,158.2% during the 2nd quarter. Bank of America Corp DE now owns 3,364 shares of the company’s stock valued at $45,000 after acquiring an additional 3,285 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of SR Bancorp during the 2nd quarter valued at about $50,000. Russell Investments Group Ltd. bought a new position in shares of SR Bancorp in the 3rd quarter valued at approximately $53,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of SR Bancorp in the 2nd quarter valued at approximately $58,000. 24.70% of the stock is owned by institutional investors and hedge funds.

SR Bancorp declared that its board has authorized a share repurchase plan on Thursday, May 21st that allows the company to buyback 801,320,000,000 outstanding shares. This buyback authorization allows the company to reacquire up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.