Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) Announces Dividend Increase – $0.23 Per Share

Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) declared a quarterly dividend on Monday, July 22nd, Zacks reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.23 per share by the savings and loans company on Friday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, August 15th. This is a positive change from Southern Missouri Bancorp’s previous quarterly dividend of $0.21.

Southern Missouri Bancorp has raised its dividend by an average of 11.9% per year over the last three years and has increased its dividend every year for the last 13 years. Southern Missouri Bancorp has a dividend payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Southern Missouri Bancorp to earn $5.45 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 16.9%.

Southern Missouri Bancorp Stock Up 5.5 %

Shares of SMBC stock opened at $52.39 on Wednesday. Southern Missouri Bancorp has a 52-week low of $37.74 and a 52-week high of $58.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $594.63 million, a price-to-earnings ratio of 11.41 and a beta of 0.97. The firm’s 50-day moving average is $46.34 and its 200-day moving average is $43.73.

Insider Buying and Selling

In other Southern Missouri Bancorp news, Director William E. Young sold 15,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $41.76, for a total value of $626,400.00. Following the transaction, the director now directly owns 224,417 shares of the company’s stock, valued at approximately $9,371,653.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Southern Missouri Bancorp news, Director William E. Young sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $41.76, for a total value of $626,400.00. Following the transaction, the director now directly owns 224,417 shares of the company’s stock, valued at approximately $9,371,653.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William E. Young sold 500 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $52.37, for a total value of $26,185.00. Following the transaction, the director now owns 223,917 shares in the company, valued at approximately $11,726,533.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,500 shares of company stock valued at $900,435. Company insiders own 17.41% of the company’s stock.

Analysts Set New Price Targets

SMBC has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $51.00 price objective (down previously from $53.00) on shares of Southern Missouri Bancorp in a research note on Wednesday, May 1st. Stephens initiated coverage on Southern Missouri Bancorp in a report on Tuesday. They set an “overweight” rating and a $60.00 target price on the 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 interest-bearing and noninterest-bearing transaction accounts, money market deposit accounts, saving accounts, certificates of deposit, and retirement savings plans.