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Southern Missouri Bancorp (SMBC)
NASDAQ:SMBC
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Southern Missouri Bancorp
(NASDAQ:SMBC)
76Outperform
Southern Missouri Bancorp (SMBC) vs. S&P 500 (SPY)
Market Cap
$601.75M
Dividend Yield1.69%
Average Volume (3M)27.93K
Price to Earnings (P/E)11.6
Beta (1Y)1.04
Revenue Growth17.53%
EPS Growth19.94%
CountryUS
Employees693
SectorFinancial
Sector Strength81
IndustryBanking
Share Statistics
EPS (TTM)4.59
Shares Outstanding11,277,167
10 Day Avg. Volume23,187
30 Day Avg. Volume27,925
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)N/A
Price to Sales (P/S)3.61
Price to Cash Flow (P/CF)7.50
P/FCF Ratio3.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$69.00Price Target Upside30.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Southern Missouri Bancorp Business Overview & Revenue Model
Company DescriptionSouthern Missouri Bancorp, Inc. is as a holding company, which engages in the provision of financial services. The company was founded on December 30, 1993 and is headquartered in Poplar Bluff, MO.
How the Company Makes MoneySouthern Missouri Bancorp generates revenue primarily through interest income from its lending activities, including personal loans, commercial loans, and mortgages. Another significant revenue stream is the interest earned on securities and other investments. The company also earns non-interest income from various banking services, such as transaction fees, account service charges, and wealth management services. Additionally, partnerships with financial institutions and businesses for product offerings contribute to revenue. The company's earnings are influenced by factors such as interest rate fluctuations, loan demand, and economic conditions in its service regions.
Southern Missouri Bancorp Financial Statement Overview
Summary
Southern Missouri Bancorp demonstrates strong financial health with substantial revenue and profit growth, zero debt, and robust cash flow metrics. The banking industry advantages are evident, with stable and profitable operations reflected in the financial statements. The company's strategic management of resources and efficient operational execution underpin its strong financial standing.Income Statement
Southern Missouri Bancorp's income statement shows strong growth with a notable increase in total revenue from $124.77 million in 2022 to $255.19 million in TTM (Trailing-Twelve-Months). The gross profit margin remains robust at 100% due to the nature of banking revenue. The net profit margin for TTM is approximately 20.35%, which is healthy for the industry. EBIT and EBITDA margins, 39.2% and 25.5% respectively, indicate good operational efficiency. Revenue growth is strong over the past year, contributing to a high score.85
Very Positive
Balance Sheet
The balance sheet reflects a strong equity position with a debt-to-equity ratio of 0, as total debt is zero. The return on equity (ROE) for TTM is about 10.14%, reflecting efficient use of equity. The equity ratio is 10.44%, indicating a stable financial structure. The absence of debt reduces financial risk and contributes to the company's stability.80
Positive
Cash Flow
The cash flow statement highlights a strong operating cash flow of $69.17 million in TTM, with free cash flow growth remaining steady. The operating cash flow to net income ratio is 1.33, indicating strong cash generation capability. The free cash flow to net income ratio is 1.21, showing efficient cash conversion. These metrics reflect solid cash flow management, though there's room for improvement in growth rates.78
Positive
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 255.19M | 164.33M | 152.95M | 124.77M | 112.73M | 97.49M | Gross Profit |
| 255.19M | 273.07M | 152.95M | 124.77M | 112.73M | 97.49M | EBIT |
| 100.03M | 63.20M | 49.46M | 77.68M | 59.71M | 34.43M | EBITDA |
| 65.12M | 73.20M | 57.02M | 65.83M | 65.13M | 39.99M | Net Income Common Stockholders |
| 51.95M | 50.18M | 39.24M | 47.17M | 47.18M | 27.55M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 613.89M | 13.97M | 472.77M | 326.95M | 331.63M | 231.74M | Total Assets |
| 4.91B | 4.61B | 4.36B | 3.21B | 2.70B | 2.54B | Total Debt |
| 130.25M | 125.21M | 156.62M | 61.01M | 72.77M | 85.17M | Net Debt |
| -15.83M | 63.81M | 101.40M | -30.57M | -51.80M | 29.95M | Total Liabilities |
| 4.40B | 4.12B | 156.62M | 2.89B | 2.42B | 2.28B | Stockholders Equity |
| 512.37M | 488.75M | 446.06M | 320.77M | 283.42M | 258.35M |
| Cash Flow | Free Cash Flow | ||||
| 62.84M | 61.22M | 55.98M | 62.73M | 48.91M | 36.00M | Operating Cash Flow |
| 69.17M | 70.27M | 62.02M | 67.34M | 51.76M | 40.30M | Investing Cash Flow |
| -350.97M | -245.74M | -213.41M | -303.93M | -101.92M | -272.36M | Financing Cash Flow |
| 211.28M | 182.39M | 118.55M | 199.80M | 119.50M | 250.90M |
Southern Missouri Bancorp Technical Analysis
Negative
52.69
Price Trends
57.11
Negative
59.75
Negative
54.78
Negative
Market Momentum
-1.49
Positive
29.53
Positive
22.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMBC, the sentiment is Negative. The current price of 52.69 is below the 20-day moving average (MA) of 56.91, below the 50-day MA of 57.11, and below the 200-day MA of 54.78, indicating a bearish trend. The MACD of -1.49 indicates Positive momentum. The RSI at 29.53 is Positive, neither overbought nor oversold. The STOCH value of 22.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SMBC.
Southern Missouri Bancorp Risk Analysis
Southern Missouri Bancorp disclosed 34 risk factors in its most recent earnings report. Southern Missouri Bancorp reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Southern Missouri Bancorp Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $601.75M | 11.63 | 10.52% | 1.69% | 17.53% | 19.94% | |
73 Outperform | $3.60B | 16.85 | 14.16% | 1.64% | 12.93% | 1.40% | |
73 Outperform | $4.45B | 19.62 | 14.87% | 1.51% | 16.28% | 9.61% | |
65 Neutral | $842.74M | 10.64 | 9.62% | 2.70% | 17.70% | 3.88% | |
64 Neutral | $1.68B | 14.51 | 16.49% | 2.63% | 11.10% | 3.74% | |
63 Neutral | $13.85B | 10.47 | 9.22% | 4.23% | 17.31% | -7.79% | |
61 Neutral | $5.01B | 22.46 | 14.39% | 2.05% | 18.54% | 12.22% |
* Financial Sector Average
Performance Comparison
SMBC
Southern Missouri Bancorp
52.69
11.67
28.45%
BANF
BancFirst
109.24
25.18
29.95%
CHCO
City Holding Company
115.07
18.06
18.62%
FFIN
First Financial Bankshares
35.13
5.50
18.56%
SFBS
ServisFirst Bancshares
80.80
20.20
33.33%
FMBH
First Mid-Illinois Bancshares
34.98
6.06
20.95%
Southern Missouri Bancorp Earnings Call Summary
Earnings Call Date: Jan 27, 2025 | % Change Since: -8.97% | Next Earnings Date: Apr 28, 2025
Earnings Call Sentiment Positive
The earnings call reflected a generally positive performance with improved earnings, strong loan and deposit growth, and stable asset quality. Despite minor challenges such as a slight increase in nonperforming loans and pressures on agricultural loans, the bank's performance improvement initiatives and strategic expansions are promising for future growth. The overall sentiment is positive, with optimism for the remainder of the fiscal year.Highlights
Improved Earnings and Profitability
Earnings and profitability improved due to a larger earning asset base, driving an increase in net interest income, a lower provision for credit losses, and a decrease in non-interest expense. Earnings per share were $1.30 diluted, up $0.20 from the linked September quarter and $0.23 from the December 2023 quarter.
Strong Loan and Deposit Growth
Gross loan balances increased by over $60 million during the second quarter, with a year-over-year increase of $295 million or just under 8%. Deposit balances increased by about $170 million in the second quarter and by $225 million or about 5.5% compared to the prior year.
Stable Asset Quality
Adversely classified loans decreased by about $849,000 or 4 basis points compared to the linked quarter. Nonperforming loan balances increased slightly but remained in line as a percentage of total loans. Nonperforming asset balances dropped to 22 basis points from 26 basis points last quarter.
Increased Tangible Book Value
Tangible book value per share increased by $4.26 or 12% during the last 12 months, reaching $38.91.
Successful Performance Improvement Initiatives
The company launched a performance improvement initiative aimed at enhancing efficiency and meeting customer needs, with some enhancements already implemented and positive results expected over the coming years.
Lowlights
Slight Increase in Nonperforming Loans
Nonperforming loan balances increased slightly by $103,000 to $8 million at December 31, representing 21 basis points of total loans, up 5 basis points from the prior year-end.
Commodity Price Pressures on Agricultural Loans
Commodity prices declined throughout the year, pressuring profitability, particularly for cotton, soybeans, and corn. This has delayed paydowns on agricultural lines, although stronger repayments are expected in the March quarter.
Expected Modest Increase in Problem Loans
Due to sustained higher interest rates, the company expects problem loans and net charge-offs could increase modestly, but they are projected to remain manageable and below industry averages.
Tax Rate Increase Due to Merger Activity
The effective tax rate for the second quarter of fiscal 2025 was elevated to 23.7% due to an adjustment of tax accruals of $380,000 attributable to completed merger activity.
Company Guidance
During the Southern Missouri Bancorp earnings call for the second fiscal quarter of 2025, the company reported a significant improvement in earnings and profitability, with earnings per diluted share increasing to $1.30, up $0.20 from the previous quarter and $0.23 year-over-year. The net interest margin for the quarter held relatively steady at 3.36%, slightly down from 3.37% in the first quarter. Net interest income rose by 4% quarter-over-quarter and 10.5% year-over-year, supported by a $60 million increase in gross loan balances and a $170 million increase in deposit balances. Tangible book value per share grew by $4.26, or 12%, over the past year. Asset quality remained strong, with non-performing assets reducing to 22 basis points. The bank's effective tax rate was elevated at 23.7% due to merger-related tax accrual adjustments. Looking forward, Southern Missouri Bancorp anticipates mid-single-digit loan growth for the fiscal year, supported by a healthy loan pipeline of $173 million and ongoing initiatives to enhance efficiency and expand talent in new markets.Southern Missouri Bancorp Corporate Events
Business Operations and Strategy
Southern Missouri Bancorp to Present at Bank Forum
Neutral
Feb 5, 2025
Southern Missouri Bancorp, Inc. announced that its investor presentation materials will be presented on February 5, 2025, at the Piper Sander Central Region Bank Forum. This presentation is likely to impact the company’s operations by providing stakeholders with insights into its strategic direction and market positioning.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.