Saber Capital Managment LLC Purchases New Position in SR Bancorp, Inc. $SRBK

Saber Capital Managment LLC purchased a new stake in shares of SR Bancorp, Inc. (NASDAQ:SRBK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 271,283 shares of the company’s stock, valued at approximately $4,270,000. SR Bancorp comprises about 3.6% of Saber Capital Managment LLC’s investment portfolio, making the stock its 7th largest position.

Several other institutional investors have also recently added to or reduced their stakes in SRBK. Jane Street Group LLC bought a new position in SR Bancorp during the 1st quarter valued at about $263,000. Geode Capital Management LLC lifted its holdings in SR Bancorp by 94.5% during 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. JPMorgan Chase & Co. bought a new position in SR Bancorp during the 2nd quarter valued at about $50,000. New York State Common Retirement Fund bought a new position in SR Bancorp during the 2nd quarter valued at about $103,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in SR Bancorp during the 2nd quarter valued at about $155,000. 24.70% of the stock is owned by institutional investors.

SR Bancorp Stock Performance

SRBK opened at $18.96 on Monday. 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 company has a market cap of $153.58 million, a price-to-earnings ratio of 45.14 and a beta of 0.58. The firm has a 50 day simple moving average of $18.33 and a 200 day simple moving average of $17.21. SR Bancorp, Inc. has a fifty-two week low of $12.81 and a fifty-two week high of $19.61.

SR Bancorp (NASDAQ:SRBK) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $8.36 million during the quarter, compared to the consensus estimate of $8.50 million. SR Bancorp had a net margin of 6.39% and a return on equity of 1.41%.

SR Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, March 31st. SR Bancorp’s payout ratio is 47.62%.

SR Bancorp announced that its board has authorized a share buyback program on Thursday, May 21st that allows the company to buyback 801,320,000,000 shares. This buyback authorization allows the company to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Hovde Group lifted their price target on shares of SR Bancorp from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Wall Street Zen raised shares of SR Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings raised shares of SR Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

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.