Southern Missouri Bancorp (NASDAQ:SMBC) Given New $29.00 Price Target at Piper Sandler

Southern Missouri Bancorp (NASDAQ:SMBC) had its price target increased by Piper Sandler from $28.00 to $29.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the savings and loans company’s stock. Piper Sandler also issued estimates for Southern Missouri Bancorp’s Q1 2021 earnings at $0.71 EPS, Q2 2021 earnings at $0.73 EPS, Q3 2021 earnings at $0.59 EPS, Q4 2021 earnings at $0.62 EPS, FY2021 earnings at $2.65 EPS, Q1 2022 earnings at $0.63 EPS, Q2 2022 earnings at $0.59 EPS, Q3 2022 earnings at $0.68 EPS, Q4 2022 earnings at $0.70 EPS and FY2022 earnings at $2.60 EPS.

Separately, Zacks Investment Research upgraded Southern Missouri Bancorp from a sell rating to a hold rating in a research note on Wednesday, June 10th.

Shares of SMBC opened at $21.81 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $22.67 and its 200 day simple moving average is $27.19. Southern Missouri Bancorp has a 1-year low of $17.30 and a 1-year high of $39.05. The company has a market cap of $200.89 million, a price-to-earnings ratio of 7.27 and a beta of 0.80.

Southern Missouri Bancorp (NASDAQ:SMBC) last announced its quarterly earnings data on Monday, July 27th. The savings and loans company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.24. The company had revenue of $26.85 million during the quarter, compared to the consensus estimate of $23.69 million. Southern Missouri Bancorp had a net margin of 22.14% and a return on equity of 11.15%. As a group, research analysts forecast that Southern Missouri Bancorp will post 2.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, August 13th.

In other news, EVP Martin Weishaar bought 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $26.19 per share, for a total transaction of $52,380.00. Following the completion of the purchase, the executive vice president now owns 2,600 shares in the company, valued at $68,094. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Greg A. Steffens purchased 1,131 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $22.46 per share, with a total value of $25,402.26. Following the completion of the acquisition, the chief executive officer now owns 212,533 shares in the company, valued at approximately $4,773,491.18. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 5,331 shares of company stock worth $126,880. Insiders own 16.73% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in Southern Missouri Bancorp by 1,459.0% in the 1st quarter. Russell Investments Group Ltd. now owns 38,835 shares of the savings and loans company’s stock worth $938,000 after purchasing an additional 36,344 shares in the last quarter. BlackRock Inc. raised its position in shares of Southern Missouri Bancorp by 3.2% in the first quarter. BlackRock Inc. now owns 516,506 shares of the savings and loans company’s stock valued at $12,536,000 after buying an additional 15,999 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Southern Missouri Bancorp in the second quarter valued at approximately $266,000. Bank of New York Mellon Corp grew its position in Southern Missouri Bancorp by 23.4% during the fourth quarter. Bank of New York Mellon Corp now owns 48,296 shares of the savings and loans company’s stock worth $1,852,000 after buying an additional 9,169 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Southern Missouri Bancorp by 9.2% during the first quarter. Geode Capital Management LLC now owns 106,579 shares of the savings and loans company’s stock worth $2,585,000 after buying an additional 8,938 shares in the last quarter. Institutional investors and hedge funds own 49.66% of the company’s stock.

Southern Missouri Bancorp Company Profile

Southern Missouri Bancorp, Inc operates as the bank holding company for Southern Bank that provides banking and financial services to individuals and corporate customers in the United States. It offers various deposit instruments, including demand deposit accounts, negotiable order of withdrawal accounts, money market deposit accounts, saving accounts, certificates of deposit, and retirement savings plans.

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