SR Bancorp (NASDAQ:SRBK) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

SR Bancorp (NASDAQ:SRBK) announced its quarterly earnings results on Wednesday. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02), Zacks reports. The business had revenue of $8.37 million for the quarter, compared to the consensus estimate of $8.50 million. SR Bancorp had a net margin of 5.82% and a return on equity of 1.26%.

SR Bancorp Stock Performance

SR Bancorp stock traded down $0.01 during trading on Friday, hitting $16.63. The stock had a trading volume of 1,915 shares, compared to its average volume of 35,214. SR Bancorp has a 1 year low of $11.36 and a 1 year high of $17.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $16.19 and its two-hundred day moving average is $15.24. The stock has a market cap of $141.85 million, a price-to-earnings ratio of 46.19 and a beta of 0.54.

SR Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. SR Bancorp’s payout ratio is 54.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SRBK shares. Wall Street Zen cut shares of SR Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of SR Bancorp in a report on Thursday, January 22nd. Finally, Hovde Group started coverage on SR Bancorp in a report on Tuesday, November 18th. They set a “market perform” rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRBK. Pekin Hardy Strauss Inc. bought a new position in SR Bancorp during the second quarter worth about $392,000. JPMorgan Chase & Co. lifted its stake in shares of SR Bancorp by 76.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,576 shares of the company’s stock valued at $99,000 after buying an additional 2,843 shares in the last quarter. Bank of America Corp DE boosted its holdings in SR Bancorp by 4,158.2% in the 2nd quarter. Bank of America Corp DE now owns 3,364 shares of the company’s stock worth $45,000 after buying an additional 3,285 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SR Bancorp in the 2nd quarter worth approximately $58,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in SR Bancorp in the 2nd quarter valued at approximately $155,000. Institutional investors own 24.70% of the company’s stock.

About SR Bancorp

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.