Insider Selling: Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) Director Sells 10,000 Shares of Stock

Key Points

• Director William E. Young sold 10,000 shares of Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) at an average price of $56.30, resulting in a total value of $563,000.
• The company declared a quarterly dividend increase from $0.23 to $0.25, with the payment scheduled for August 29th, 2023, representing a yield of 1.79%.
• Analysts have set new price targets, with Keefe, Bruyette & Woods raising their target from $60 to $63 and Stephens maintaining an "overweight" rating with a target of $65.

Southern Missouri Bancorp, Inc. (NASDAQ:SMBC - Get Free Report) Director William E. Young sold 10,000 shares of the stock in a transaction on 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 owned 94,987 shares of the company's stock, valued at $5,347,768.10. The trade was a 9.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Southern Missouri Bancorp Stock Performance

Shares of NASDAQ:SMBC traded down $1.25 during mid-day trading on Friday, reaching $52.85. The company had a trading volume of 7,058 shares, compared to its average volume of 34,453. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24. The firm has a market cap of $597.15 million, a price-to-earnings ratio of 10.20 and a beta of 0.98. The company's 50-day moving average price is $54.60 and its 200-day moving average price is $54.55. Southern Missouri Bancorp, Inc. has a one year low of $45.10 and a one year high of $68.69.

Southern Missouri Bancorp (NASDAQ:SMBC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The savings and loans company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Southern Missouri Bancorp had a net margin of 19.17% and a return on equity of 11.35%. The business had revenue of $47.61 million for the quarter, compared to analysts' expectations of $46.60 million. As a group, equities research analysts anticipate that Southern Missouri Bancorp, Inc. will post 5.06 EPS for the current fiscal year.

Southern Missouri Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This is a positive change from Southern Missouri Bancorp's previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Southern Missouri Bancorp's dividend payout ratio is currently 17.76%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMBC. Stephens restated an "overweight" rating and set a $65.00 target price on shares of Southern Missouri Bancorp in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods raised their target price on Southern Missouri Bancorp from $60.00 to $63.00 and gave the company a "market perform" rating in a research note on Friday, July 25th.

Institutional Investors Weigh In On Southern Missouri Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Trust Co. NA purchased a new position in shares of Southern Missouri Bancorp in the 2nd quarter worth $32,000. Quantbot Technologies LP bought a new position in shares of Southern Missouri Bancorp during the 4th quarter worth approximately $74,000. Strs Ohio bought a new position in shares of Southern Missouri Bancorp during the 1st quarter worth approximately $94,000. KLP Kapitalforvaltning AS bought a new position in shares of Southern Missouri Bancorp during the 4th quarter worth approximately $138,000. Finally, Lazard Asset Management LLC raised its stake in shares of Southern Missouri Bancorp by 147.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,542 shares of the savings and loans company's stock worth $202,000 after acquiring an additional 2,111 shares in the last quarter. Hedge funds and other institutional investors own 49.49% 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. 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.