Shares of SR Bancorp jumped to an all-time high of $12.21 by Investing.com

Shares of SR Bancorp (SRBK) hit an all-time high of $12.21, marking a significant milestone for the $104.48 million small-cap bank. InvestingPro analysis shows that the stock is currently in overpriced territory, with 8 additional key technical indicators available to subscribers. This peak represents not only a 52-week high, but also the highest value the stock has ever reached. Over the past year, SR Bancorp has witnessed an impressive growth trajectory, with the stock price rising 26.74%, including an incredible 32.89% gain over the past six months. Trading at a P/E ratio of 98.05, InvestingPro analysis suggests that the stock may be overvalued relative to its fair value. This strong performance reflects investor confidence and the company’s potential for continued growth in a competitive financial market. The all-time record achievement is a testament to SR Bancorp’s strategic initiatives and its ability to adapt to a dynamic economic landscape.

In other recent news, SR Bancorp announced several important developments. The company’s shareholders 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 resolutions were made during the annual meeting of shareholders, with the Equity Plan that aims to provide opportunities for equity-based compensation for eligible employees, directors and consultants.

In addition to these developments, SR Bancorp launched its first share buyback program. The program aims to buy back up to 950,793 shares, approximately 10% of its 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 borrowings of $731.9 million, deposits totaling $807.1 million and total equity of $199.5 million as of June 30, 2024. It is important to note that these statements are forward-looking subject to risks and uncertainties that could cause actual results to differ from expectations.

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