Hovde Group Initiates Coverage on Southern Missouri Bancorp (NASDAQ:SMBC)

Key Points

• Hovde Group initiated coverage of Southern Missouri Bancorp with a “market perform” rating and a $76 price target, implying approximately 4.7% upside from the previous close.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from seven analysts, with an average price target of $81.75.
• Southern Missouri Bancorp exceeded quarterly expectations, reporting $1.83 in EPS versus the $1.52 estimate and revenue of $51.76 million versus $51.14 million expected.

Analysts at Hovde Group began coverage on shares of Southern Missouri Bancorp (NASDAQ:SMBC - Get Free Report) in a note issued to investors on Monday, Benzinga reports. The brokerage set a "market perform" rating and a $76.00 price target on the savings and loans company's stock. Hovde Group's price objective points to a potential upside of 4.70% from the stock's previous close.

SMBC has been the subject of a number of other research reports. Piper Sandler reiterated a "neutral" rating and issued a $83.00 price objective (up from $79.00) on shares of Southern Missouri Bancorp in a research report on Monday, July 27th. Wall Street Zen upgraded Southern Missouri Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Stephens lowered Southern Missouri Bancorp from an "overweight" rating to an "equal weight" rating and set a $85.00 price target for the company. in a research note on Thursday, August 6th. Keefe, Bruyette & Woods upped their price target on Southern Missouri Bancorp from $75.00 to $83.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Finally, Raymond James Financial assumed coverage on Southern Missouri Bancorp in a research report on Tuesday, September 1st. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $81.75.

Southern Missouri Bancorp Price Performance

Shares of NASDAQ SMBC opened at $72.59 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $799.22 million, a price-to-earnings ratio of 11.29 and a beta of 0.87. The firm's 50 day simple moving average is $74.53 and its 200-day simple moving average is $71.40. Southern Missouri Bancorp has a 12 month low of $47.60 and a 12 month high of $79.86.

Southern Missouri Bancorp (NASDAQ:SMBC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The savings and loans company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.31. Southern Missouri Bancorp had a net margin of 22.63% and a return on equity of 12.59%. The firm had revenue of $51.76 million during the quarter, compared to analysts' expectations of $51.14 million. Analysts expect that Southern Missouri Bancorp will post 6.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP purchased a new stake in Southern Missouri Bancorp during the 2nd quarter worth approximately $26,000. Royal Bank of Canada lifted its position in shares of Southern Missouri Bancorp by 124.7% in the first quarter. Royal Bank of Canada now owns 564 shares of the savings and loans company's stock valued at $36,000 after acquiring an additional 313 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Southern Missouri Bancorp in the second quarter valued at approximately $335,000. Inceptionr LLC purchased a new position in shares of Southern Missouri Bancorp in the first quarter valued at approximately $346,000. Finally, Odyssean LLC acquired a new stake in shares of Southern Missouri Bancorp in the second quarter worth approximately $410,000. 49.49% of the stock is owned by hedge funds and other institutional investors.

About Southern Missouri Bancorp

Southern Missouri Bancorp, Inc is a bank holding company headquartered in Poplar Bluff, Missouri. It operates primarily through Southern Bank, a community-focused financial institution that provides banking services to individuals, families, farmers, and businesses.

Southern Bank offers deposit products, residential and commercial real estate lending, consumer loans, agricultural financing, and commercial loans. Its services also include online and mobile banking, treasury and cash-management solutions, and other financial products designed to support personal and business customers.

The bank traces its history to 1887 and serves communities across Missouri and neighboring markets through a network of banking offices and digital channels.

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