In a recent transaction, Christopher J. Pribula, President and COO of SR Bancorp, Inc. (NASDAQ:SRBK), purchased 1,000 shares of the company's common stock. The transaction, dated May 21, 2024, was executed at a price of $9.20 per share, amounting to a total investment of $9,200.
This acquisition adds to Pribula's already significant holdings in SR Bancorp, increasing his direct ownership to 6,000 shares. In addition to Pribula's direct holdings, indirect ownership through various family accounts and employee stock ownership plans (ESOP) are notable. These include 20,211 shares held in a 401(k), 1,000 shares by his spouse, and smaller amounts held for his son and daughter, each totaling 250 shares. The ESOP account holds an additional 1,419 shares.
The purchase by the President and COO demonstrates a continued commitment to the company's future and aligns with Pribula's role in guiding SR Bancorp's strategic direction. Investors often view insider purchases as a positive signal about the company's prospects and management's belief in the firm's value.
SR Bancorp, Inc., based out of Maryland, operates within the savings institutions sector, not federally chartered. It is headquartered in Bound Brook, New Jersey, where Pribula also resides. The company's shares are traded on the NASDAQ under the ticker symbol SRBK.
The details of the transaction were disclosed in compliance with the SEC regulations, providing transparency into the trading activities of the company's insiders.
InvestingPro Insights
The recent insider purchase by Christopher J. Pribula, President and COO of SR Bancorp, Inc. (NASDAQ:SRBK), is a noteworthy event that aligns with the company's strategic direction. To further understand the financial context of SRBK, let's consider some key metrics provided by InvestingPro. As of the last twelve months ending Q3 2024, SR Bancorp has a market capitalization of $87.28 million, showcasing the company's size within the savings institutions sector. Despite a challenging profitability profile, with an adjusted P/E ratio of -23.14 indicating the company is not profitable over the period, SRBK has demonstrated impressive revenue growth of 51.95% during the same timeframe. This growth is a positive sign for potential future profitability.
InvestingPro Tips spotlight the company's low price volatility, suggesting a stable trading pattern for its shares. However, it's important to note that SRBK does not pay dividends to shareholders, which may be a consideration for income-focused investors. Additionally, the company's weak gross profit margins might raise concerns about its operational efficiency. These insights, among others, are included in the comprehensive list of tips available on InvestingPro, which currently offers 3 additional tips for SRBK. For those interested in a deeper analysis, using the coupon code PRONEWS24 provides an extra 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
Finally, with the InvestingPro fair value estimation at $6.63, the current price of $9.18 suggests that the market is valuing SRBK above what InvestingPro considers fair, potentially due to the positive revenue growth and insider buying activity. Investors may want to keep an eye on the next earnings date, set for September 27, 2024, to see how the company's financials continue to evolve.
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