Southern Missouri Bancorp, Inc. $SMBC Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America bought 21,372 shares of Southern Missouri Bancorp during the second quarter, valued at approximately $1.63 million and representing about 0.19% of the company. Institutional investors collectively own 49.49% of SMBC.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $83.67; Benchmark upgraded the stock to “Strong Buy.”
• Southern Missouri Bancorp exceeded quarterly earnings expectations, reporting $1.83 in EPS versus the $1.52 consensus estimate, and increased its quarterly dividend to $0.27 per share, an annualized yield of approximately 1.5%.

Bank of America Corp DE bought a new position in Southern Missouri Bancorp, Inc. (NASDAQ:SMBC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,372 shares of the savings and loans company's stock, valued at approximately $1,629,000. Bank of America Corp DE owned about 0.19% of Southern Missouri Bancorp at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Southern Missouri Bancorp in the 2nd quarter worth approximately $85,270,000. Dimensional Fund Advisors LP increased its position in Southern Missouri Bancorp by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 440,839 shares of the savings and loans company's stock valued at $28,187,000 after purchasing an additional 11,946 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Southern Missouri Bancorp during the 2nd quarter valued at $18,079,000. Raffles Associates LP bought a new position in Southern Missouri Bancorp in the 2nd quarter worth $16,092,000. Finally, ACR Alpine Capital Research LLC raised its holdings in Southern Missouri Bancorp by 4.0% in the 1st quarter. ACR Alpine Capital Research LLC now owns 94,707 shares of the savings and loans company's stock worth $6,056,000 after purchasing an additional 3,675 shares in the last quarter. Hedge funds and other institutional investors own 49.49% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMBC. Keefe, Bruyette & Woods boosted their price target on shares of Southern Missouri Bancorp from $75.00 to $83.00 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Raymond James Financial assumed coverage on shares of Southern Missouri Bancorp in a report on Tuesday, September 1st. They issued a "market perform" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set a $83.00 price objective (up from $79.00) on shares of Southern Missouri Bancorp in a research report on Monday, July 27th. Benchmark upgraded Southern Missouri Bancorp to a "strong-buy" rating in a report on Wednesday, September 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Southern Missouri Bancorp in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.67.

Southern Missouri Bancorp Price Performance

Shares of NASDAQ SMBC opened at $71.36 on Friday. The company has a 50 day simple moving average of $74.63 and a two-hundred day simple moving average of $71.33. Southern Missouri Bancorp, Inc. has a fifty-two week low of $47.60 and a fifty-two week high of $79.86. The company has a market capitalization of $785.67 million, a price-to-earnings ratio of 11.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99.

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

Southern Missouri Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 14th. This is a positive change from Southern Missouri Bancorp's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.5%. Southern Missouri Bancorp's dividend payout ratio (DPR) is presently 16.80%.

Southern Missouri Bancorp Profile

Southern Missouri Bancorp, Inc is the bank holding company for Southern Bank, a community banking institution headquartered in Poplar Bluff, Missouri. Through Southern Bank, the company provides banking and financial services to individuals, families, farmers, and businesses.

Southern Bank offers deposit products, residential and commercial real estate lending, consumer loans, agricultural financing, business loans, mortgage services, and treasury management solutions. Customers also have access to digital banking, online bill pay, mobile banking, and other standard personal and business banking services.

Southern Bank traces its history to 1887 and serves communities primarily in Missouri and neighboring areas, including parts of Arkansas.

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