NasdaqGM:SMBC

Stock Analysis Report

Southern Missouri Bancorp

Executive Summary

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.

Rewards

PE ratio (11.6x) is below the US market (18.9x)

Earnings grew by 30.9% over the past year

Pays a reliable dividend of 1.6%

Risk Analysis

Shareholders have been diluted in the past year



Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


Similar Companies

Share Price & News

How has Southern Missouri Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SMBC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.6%

SMBC

0.4%

US Mortgage

1.7%

US Market


1 Year Return

14.0%

SMBC

16.6%

US Mortgage

23.6%

US Market

Return vs Industry: SMBC underperformed the US Mortgage industry which returned 18.8% over the past year.

Return vs Market: SMBC underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

SMBCIndustryMarket
7 Day0.6%0.4%1.7%
30 Day-4.1%-1.5%3.5%
90 Day3.3%0.8%11.7%
1 Year15.9%14.0%19.2%16.6%26.2%23.6%
3 Year14.5%9.8%27.7%18.9%53.2%43.3%
5 Year116.7%101.0%72.1%53.5%75.5%56.1%

Price Volatility Vs. Market

How volatile is Southern Missouri Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Southern Missouri Bancorp undervalued compared to its fair value and its price relative to the market?

11.57x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SMBC ($37.54) is trading above our estimate of fair value ($31.04)

Significantly Below Fair Value: SMBC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SMBC is good value based on its PE Ratio (11.6x) compared to the Mortgage industry average (14.2x).

PE vs Market: SMBC is good value based on its PE Ratio (11.6x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: SMBC is poor value based on its PEG Ratio (13x)


Price to Book Ratio

PB vs Industry: SMBC is overvalued based on its PB Ratio (1.4x) compared to the US Mortgage industry average (1.1x).


Next Steps

Future Growth

How is Southern Missouri Bancorp forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

0.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SMBC's forecast earnings growth (0.9% per year) is below the savings rate (1.7%).

Earnings vs Market: SMBC's earnings (0.9% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: SMBC's earnings are forecast to grow, but not significantly.

Revenue vs Market: SMBC's revenue (4.7% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: SMBC's revenue (4.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if SMBC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Southern Missouri Bancorp performed over the past 5 years?

19.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SMBC has high quality earnings.

Growing Profit Margin: SMBC's current net profit margins (33.9%) are higher than last year (30.2%).


Past Earnings Growth Analysis

Earnings Trend: SMBC's earnings have grown by 19.3% per year over the past 5 years.

Accelerating Growth: SMBC's earnings growth over the past year (30.9%) exceeds its 5-year average (19.3% per year).

Earnings vs Industry: SMBC earnings growth over the past year (30.9%) exceeded the Mortgage industry 23.1%.


Return on Equity

High ROE: SMBC's Return on Equity (12.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Southern Missouri Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SMBC has a low level of unsold assets or inventory.

Debt Coverage by Assets: SMBC's debt is not covered by short term assets (assets are 0.5x debt).


Financial Institutions Analysis

Asset Level: SMBC's level of assets compared to its equity is low.

Allowance for Bad Loans: SMBC has a sufficient allowance for bad loans.

Low Risk Liabilities: SMBC's liabilities are made up of primarily low risk sources of funding.

Loan Level: SMBC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SMBC's loans are broadly funded by customer deposits.

Level of Bad Loans: SMBC has an appropriate level of bad loans (0.73%)


Next Steps

Dividend

What is Southern Missouri Bancorp's current dividend yield, its reliability and sustainability?

1.60%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%1.4%markettop25%3.7%industryaverage2.7%forecastin3Years1.7%

Current dividend yield vs market & industry

Notable Dividend: SMBC's dividend (1.6%) is higher than the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: SMBC's dividend (1.6%) is low compared to the top 25% of dividend payers in the US market (3.66%).


Stability and Growth of Payments

Stable Dividend: SMBC's dividends per share have been stable in the past 10 years.

Growing Dividend: SMBC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (16.7%), SMBC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Southern Missouri Bancorp's salary, the management and board of directors tenure and is there insider trading?

8.5yrs

Average management tenure


CEO

Greg Steffens (52yo)

21yrs

Tenure

US$551,904

Compensation

Mr. Greg A. Steffens has been the Chief Executive Officer and President at Southern Missouri Bancorp, Inc. since 1999. Mr. Steffens serves as President and Chief Executive Officer of Southern Bank. He serv ...


CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD551.90K) is below average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.


Management Age and Tenure

8.5yrs

Average Tenure

52yo

Average Age

Experienced Management: SMBC's management team is seasoned and experienced (8.5 years average tenure).


Board Age and Tenure

11.3yrs

Average Tenure

68yo

Average Age

Experienced Board: SMBC's board of directors are seasoned and experienced ( 11.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.7%.


Management Team

  • Greg Steffens (52yo)

    President

    • Tenure: 21yrs
    • Compensation: US$551.90k
  • Ronnie Black (71yo)

    Secretary & Director

    • Tenure: 23yrs
    • Compensation: US$26.55k
  • Kim Capps (52yo)

    Executive VP & COO

    • Tenure: 14yrs
    • Compensation: US$254.55k
  • Mark Hecker (53yo)

    Executive VP & Chief Credit Officer

    • Tenure: 3yrs
    • Compensation: US$328.18k
  • Lora Daves

    Executive VP & Chief Risk Officer

    • Compensation: US$128.18k
  • Matt Funke (43yo)

    Executive VP & CFO

    • Tenure: 14yrs
    • Compensation: US$318.17k
  • Lorna Brannum

    Investor Relations Contact

    • Justin Cox

      Executive VP & Regional President of Southern Bank West Region

      • Compensation: US$314.42k
    • Chris Roberts

      Executive VP & Regional President of South Region

      • Tenure: 2.4yrs
    • Rick Windes

      Executive VP & Chief Lending Officer

      • Tenure: 1.7yrs
      • Compensation: US$294.53k

    Board Members

    • Greg Steffens (52yo)

      President

      • Tenure: 21yrs
      • Compensation: US$551.90k
    • Ronnie Black (71yo)

      Secretary & Director

      • Tenure: 23yrs
      • Compensation: US$26.55k
    • L. Bagby (69yo)

      Director

      • Tenure: 23yrs
      • Compensation: US$11.83k
    • Sam Schalk (70yo)

      Chairman of the Board

      • Tenure: 0.5yrs
      • Compensation: US$38.31k
    • Dave Tooley (70yo)

      Independent Director

      • Tenure: 8.3yrs
      • Compensation: US$41.05k
    • Charles Love (68yo)

      Vice Chairman of the Board

      • Tenure: 0.5yrs
      • Compensation: US$41.36k
    • Becky Brooks (63yo)

      Independent Director

      • Tenure: 15.3yrs
      • Compensation: US$27.81k
    • Todd Hensley (52yo)

      Independent Director

      • Tenure: 5.4yrs
      • Compensation: US$25.68k
    • Dennis Robison (65yo)

      Independent Director

      • Tenure: 11.3yrs
      • Compensation: US$27.90k

    Company Information

    Southern Missouri Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Southern Missouri Bancorp, Inc.
    • Ticker: SMBC
    • Exchange: NasdaqGM
    • Founded: 1887
    • Industry: Thrifts and Mortgage Finance
    • Sector: Banks
    • Market Cap: US$344.515m
    • Shares outstanding: 9.20m
    • Website: https://www.bankwithsouthern.com

    Number of Employees


    Location

    • Southern Missouri Bancorp, Inc.
    • 2991 Oak Grove Road
    • Poplar Bluff
    • Missouri
    • 63901
    • United States

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    SMBCNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDApr 1994

    Biography

    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. It offers various deposit instruments, including demand deposit accounts, negotiable order of withdrawal accounts, money market deposit accounts, saving accounts, certificates of deposit, and retirement savings plans. The company also provides loans for the acquisition or refinance of one-to four-family residences; loans secured by commercial real estate, including land, shopping centers, retail establishments, nursing homes and other healthcare related facilities, and other businesses; construction loans; and various secured consumer loans comprising home equity, direct and indirect automobile loans, second mortgages, mobile home loans, and loans secured by deposits. In addition, it offers commercial business loans, such as loans to finance accounts receivable, inventory, equipment, and operating lines of credit. As of June 30, 2019, the company operated 44 full-service branch offices, and 2 limited-service branch offices located in Poplar Bluff, Van Buren, Dexter, Kennett, Doniphan, Sikeston, Qulin, Matthews, Springfield, Thayer, West Plains, Alton, Clever, Forsyth, Fremont Hills, Kimberling City, Ozark, Nixa, Rogersville, Marshfield, Cape Girardeau, Jackson, Gideon, Chaffee, Benton, Advance, Bloomfield, and Essex Missouri; Jonesboro, Paragould, Batesville, Searcy, Bald Knob, and Bradford, Arkansas; and Anna, Cairo, and Tamms, Illinois. Southern Missouri Bancorp, Inc. was founded in 1887 and is headquartered in Poplar Bluff, Missouri. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/19 23:42
    End of Day Share Price2020/01/17 00:00
    Earnings2019/09/30
    Annual Earnings2019/06/30


    Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.