BOUND BROOK, N.J.—James Castelletti, Senior Vice President and Senior Commercial Lending Officer at SR Bancorp, Inc. (NASDAQ:SRBK), recently purchased 1,000 shares of the company's common stock. The transaction, dated December 18, 2024, was executed at a price of $12.34 per share, resulting in a total investment of $12,340. The purchase comes as the stock trades near its 52-week high of $12.46, having gained over 30% in the past six months. InvestingPro analysis indicates the stock is trading at a relatively high earnings multiple with a P/E ratio of 98.
Following this acquisition, Castelletti's direct ownership in SR Bancorp now stands at 1,000 shares. This transaction was disclosed in a filing with the Securities and Exchange Commission, highlighting Castelletti's commitment to the company. With a market capitalization of $104.57 million, SR Bancorp shows strong momentum, though InvestingPro subscribers can access additional insights, including 6 more key investment tips and detailed valuation metrics.
In other recent news, SR Bancorp, Inc. has announced significant developments regarding its financial strategies and leadership. The company's stockholders approved a new Equity Incentive Plan aimed at aligning the interests of employees, directors, and consultants with those of the company's stockholders. The plan was approved at the recent Annual Meeting of Stockholders, where three directors, Mary E. Davey, Thomas Lupo, and John W. Mooney, were also elected to serve three-year terms on the board of directors.
Additionally, SR Bancorp has launched its inaugural stock repurchase program, intending to repurchase up to 950,793 shares, approximately 10% of its outstanding common stock. The specifics of the repurchase program will be determined by various factors, including market conditions and SR Bancorp's financial performance.
Further, the company's stockholders ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025. These recent developments coincide with SR Bancorp reporting 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. These are important developments for SR Bancorp's financial strategies and leadership structure.
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