Southern Missouri Bancorp (SMBC) Misses Q1 Earnings Estimates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2024
0mins
Source: NASDAQ.COM
Earnings Performance: Southern Missouri Bancorp (SMBC) reported quarterly earnings of $1.10 per share, slightly missing the Zacks Consensus Estimate of $1.11 and down from $1.16 a year ago, while revenues of $43.84 million exceeded expectations.
Market Outlook: The company's stock is currently rated as a Zacks Rank #3 (Hold), indicating expected performance in line with the market, as investors await further revisions to earnings estimates following the recent report.
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Analyst Views on SMBC
Wall Street analysts forecast SMBC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SMBC is 61.75 USD with a low forecast of 60.50 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 62.180
Low
60.50
Averages
61.75
High
63.00
Current: 62.180
Low
60.50
Averages
61.75
High
63.00
About SMBC
Southern Missouri Bancorp, Inc. is a bank holding company and the parent company of Southern Bank (Bank). The Bank is primarily engaged in providing a full range of banking and financial services to individuals and corporate customers in its market areas. The principal business of the Bank consists of attracting retail deposits from the general public and using such deposits along with wholesale funding from the Federal Home Loan Bank of Des Moines, (FHLB), and brokered deposits, to invest in one- to four-family residential mortgage loans, mortgage loans secured by commercial real estate, commercial non-mortgage business loans, construction loans, and consumer loans. These funds are also used to purchase mortgage-backed and related securities (MBS), municipal bonds, and other permissible investments. The Bank provides its customers with a full array of community banking services. It operates over 62 full-service branch offices and three limited-service branch offices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Southern Missouri Bancorp (SMBC) Reports $18.2M Q2 Net Income and Announces 550,000 Share Buyback
- Profitability Improvement: Southern Missouri Bancorp reported a net income of $18.2 million for Q2, reflecting quarter-over-quarter growth driven by a reduction in credit loss provisions and an increase in loan balances, indicating sustained improvement in profitability.
- Record Loan Originations: The bank achieved nearly $312 million in loan originations this quarter, the highest in several years, with gross loan balances increasing by $35 million, showcasing strong growth in residential and commercial lending sectors.
- Share Buyback Program: The board approved a new share repurchase program allowing for the buyback of up to 550,000 shares, approximately 5% of outstanding shares, demonstrating management's confidence in the company's future and flexibility in capital allocation.
- Asset Quality Management: Although non-performing loans and classified assets have slightly increased, management emphasized that overall problem assets remain manageable, and they plan to continue improving credit quality to support future profitability.
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Southern Missouri (SMBC) Declares $0.25 Quarterly Dividend with 1.57% Yield
- Quarterly Dividend Declaration: Southern Missouri Bank has declared a quarterly dividend of $0.25 per share, consistent with previous distributions, reflecting the company's stable cash flow and shareholder return strategy.
- Yield Performance: The forward yield of 1.57% for this dividend offers a relatively attractive return in the current market environment, potentially drawing more investor interest towards the stock.
- Financial Performance: Southern Missouri reported a preliminary net income of $18.2 million for Q2, indicating sustained growth in profitability, which enhances its ability to maintain dividend payments.
- Shareholder Rights Assurance: The dividend will be payable on February 27, with a record date of February 13 and an ex-dividend date also on February 13, ensuring shareholders receive timely returns and further solidifying investor confidence.
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