SR Bancorp, Inc. (NASDAQ:SRBK) Plans Dividend Increase – $0.06 Per Share

SR Bancorp, Inc. (NASDAQ:SRBK) declared a quarterly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be given a dividend of 0.06 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, June 30th. This is a 20.0% increase from SR Bancorp’s previous quarterly dividend of $0.05.

SR Bancorp Trading Down 0.3%

NASDAQ:SRBK traded down $0.05 during trading hours on Thursday, hitting $18.83. 62,426 shares of the stock were exchanged, compared to its average volume of 44,217. The company has a market capitalization of $152.52 million, a P/E ratio of 44.83 and a beta of 0.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $18.43 and its two-hundred day moving average is $17.28. SR Bancorp has a twelve month low of $12.81 and a twelve month high of $19.61.

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

SR Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that permits the company to buyback 801,320,000,000 outstanding shares. This buyback authorization permits the company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.