SR Bancorp (SRBK) shares have reached an all-time high, touching a price of $12.21, marking a significant milestone for the small-cap bank valued at $104.48 million. InvestingPro analysis indicates the stock is currently in overbought territory, with 8 additional key technical indicators available to subscribers. This peak represents not just a 52-week high but the highest value the stock has ever achieved. Over the past year, SR Bancorp has witnessed an impressive growth trajectory, with the stock price soaring by 26.74%, including a remarkable 32.89% gain in the past six months. Trading at a P/E ratio of 98.05, InvestingPro analysis suggests the stock may be overvalued relative to its Fair Value. This robust performance reflects investor confidence and the company's potential for continued growth in a competitive financial market. The achievement of an all-time high is a testament to SR Bancorp's strategic initiatives and its ability to adapt to the dynamic economic landscape.
In other recent news, SR Bancorp has announced several important developments. The company's stockholders have approved a new Equity Incentive Plan, elected three directors, and ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025. These decisions were made during the Annual Meeting of Stockholders, with the Equity Plan aiming to provide equity-based compensation opportunities for eligible employees, directors, and consultants.
In addition to these developments, SR Bancorp has launched its first stock repurchase program. The program aims to buy back up to 950,793 shares, approximately 10% of its outstanding common stock. The specifics of the program will depend on various factors including market conditions and the company's financial performance.
These recent developments follow the company's reported total assets of $1.02 billion, net loans of $731.9 million, deposits totaling $807.1 million, and total equity of $199.5 million as of June 30, 2024. It's important to note that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
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