Southern Missouri Bancorp (NASDAQ:SMBC) Announces Quarterly Earnings Results

Key Points

• Southern Missouri Bancorp reported quarterly earnings of $1.42 per share, exceeding analysts' expectations by $0.11, with a return on equity of 11.19% and a net margin of 19.17%.
• The company's stock price increased by 0.7% to $50.49, with a market capitalization of $570.03 million and a price-to-earnings ratio of 9.75.
• Institutional investors have significantly increased their stakes in Southern Missouri Bancorp, with hedge funds owning nearly 49.49% of the stock.

Southern Missouri Bancorp (NASDAQ:SMBC - Get Free Report) issued its quarterly earnings results on Wednesday. The savings and loans company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.11, Zacks reports. Southern Missouri Bancorp had a return on equity of 11.19% and a net margin of 19.17%.

Southern Missouri Bancorp Stock Up 0.7%

NASDAQ SMBC traded up $0.35 during trading hours on Wednesday, hitting $50.49. The company had a trading volume of 58,745 shares, compared to its average volume of 36,940. Southern Missouri Bancorp has a fifty-two week low of $45.10 and a fifty-two week high of $68.69. The company has a market capitalization of $570.03 million, a price-to-earnings ratio of 9.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50 day moving average is $54.45 and its 200 day moving average is $53.73.

Insiders Place Their Bets

In other Southern Missouri Bancorp news, Director William E. Young sold 10,000 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $56.30, for a total value of $563,000.00. Following the completion of the transaction, the director directly owned 94,987 shares of the company's stock, valued at $5,347,768.10. This represents a 9.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 15.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Southern Missouri Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMBC. Lazard Asset Management LLC boosted its position in Southern Missouri Bancorp by 96.2% in the 2nd quarter. Lazard Asset Management LLC now owns 39,113 shares of the savings and loans company's stock valued at $2,141,000 after buying an additional 19,176 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Southern Missouri Bancorp in the 2nd quarter valued at about $996,000. Qube Research & Technologies Ltd boosted its position in Southern Missouri Bancorp by 83.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 32,471 shares of the savings and loans company's stock valued at $1,779,000 after buying an additional 14,788 shares during the last quarter. Jane Street Group LLC purchased a new position in Southern Missouri Bancorp in the 1st quarter valued at about $740,000. Finally, Thrivent Financial for Lutherans boosted its position in Southern Missouri Bancorp by 221.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,160 shares of the savings and loans company's stock valued at $721,000 after buying an additional 9,063 shares during the last quarter. 49.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SMBC. Weiss Ratings downgraded Southern Missouri Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Piper Sandler began coverage on Southern Missouri Bancorp in a report on Thursday, August 28th. They set a "neutral" rating and a $66.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on Southern Missouri Bancorp from $60.00 to $63.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Southern Missouri Bancorp has an average rating of "Hold" and a consensus price target of $64.67.

About Southern Missouri Bancorp

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. The company offers deposits products, including interest-bearing and noninterest-bearing transaction accounts, saving accounts, certificates of deposit, retirement savings plans, and money market deposit accounts.

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