In a recent transaction on July 24, Earl A. Steinert Jr., a director at Great Southern Bancorp, Inc. (NASDAQ:GSBC), sold shares worth approximately $316,061. The sale was executed at an average price of $63.2122 per share, totaling 5,000 shares of the company's common stock.
On the same day, Steinert also acquired a total of 5,000 shares through option exercises at prices ranging from $41.74 to $55.00, amounting to $256,140. These transactions reflect a balance of stock sales and acquisitions, with the sales slightly outweighing the purchases by a narrow margin.
Great Southern Bancorp, headquartered in Springfield, Missouri, is a financial institution known for its commercial banking services. Steinert's recent stock activity comes amid the company's ongoing financial developments and market performance.
Investors often monitor insider transactions such as these for insights into executive sentiment on the company's future prospects. While the reasons for Steinert's sale are not disclosed, the transactions are part of the regular financial disclosures made by company insiders.
The details of the transactions were made public through a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Great Southern Bancorp reported its second quarter 2024 earnings, exceeding both Piper Sandler's estimate and the consensus on Wall Street. The bank reported earnings per share (EPS) at $1.45, but when excluding core conversion items, the adjusted EPS was $1.33, surpassing Piper Sandler's estimate by $0.09 and the consensus by $0.12. These results were influenced by a negative $0.6 million provision for credit losses, which added $0.11 per share to the earnings, and by net recoveries during the quarter.
The bank also reported an increase in fee income, slightly above expectations, although core operating expenses were higher than anticipated. A lower tax rate than forecasted also contributed, adding $0.03 to the EPS. Despite an increase in core expenses, the company's financial health was bolstered by net recoveries and a favorable tax environment.
Piper Sandler maintained a Neutral rating on Great Southern Bancorp's stock, with a steady price target of $53.00, reflecting a consistent view on the stock's valuation following the latest quarterly results. These recent developments show Great Southern Bancorp's ability to outperform analyst expectations in terms of core profitability.
InvestingPro Insights
As Great Southern Bancorp, Inc. (NASDAQ:GSBC) navigates the financial landscape, insights from InvestingPro provide a deeper understanding of the company's performance and potential. With a market capitalization of $725.07 million and a P/E ratio standing at 12.4, GSBC presents a valuation that may catch the eye of value-focused investors. The P/E ratio, adjusted for the last twelve months as of Q2 2024, shows a slight decrease to 12.18, suggesting a consistent earnings performance relative to the company’s share price.
Despite a revenue contraction of 8.36% in the last twelve months as of Q2 2024, GSBC has maintained a strong operating income margin at 36.86%. This indicates efficient management and the ability to convert a significant portion of revenue into operating income. Additionally, the company has demonstrated resilience with a robust total return of 18.26% over the past month and 17.24% over the last three months, highlighting positive short-term momentum in its stock price.
An InvestingPro Tip worth noting is that three analysts have revised their earnings upwards for the upcoming period, which could signal confidence in the company's ability to surpass current financial expectations. Moreover, Great Southern Bancorp has upheld its commitment to shareholders by maintaining dividend payments for 35 consecutive years, boasting a dividend yield of 2.56% as of the latest data from 2024.
For those interested in further insights, InvestingPro offers additional tips for Great Southern Bancorp, Inc., which can be accessed by visiting https://www.investing.com/pro/GSBC. Subscribers can utilize the promo code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking a wealth of expert analysis and data to inform investment decisions.
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