Southern Missouri Bancorp initiated with an Overweight at Stephens

Stephens initiated coverage of Southern Missouri Bancorp with an Overweight rating and $60 price target. The firm believes the bank’s deposit pricing headwinds are easing, while earning assets continue to reprice higher, resulting in net interest margin expansion. Southern Missouri’s balance sheet is likely to benefit from lower interest rates, which could accelerate the NIM performance, the analyst tells investors in a research note.