SPRINGFIELD, Mo.—Joseph W. Turner, the President and CEO of Great Southern Bancorp, Inc. (NASDAQ:GSBC), recently reported significant stock transactions involving the company's common stock. On November 6, Turner exercised options to acquire 6,000 shares at $50.71 per share, totaling $304,260. Subsequently, he sold the same number of shares at a price of $66.63 per share, amounting to a total sale value of $399,771.
Following these transactions, Turner holds 137,382 shares directly, with additional indirect holdings through various accounts, including a spouse's account and a children's trust. These transactions are part of a series of planned financial activities by the executive, reflecting ongoing management of his equity position in the company.
In other recent news, Great Southern Bancorp reported solid third-quarter results, with earnings of $1.41 per diluted share and a net income of $16.5 million. The company's assets surpassed the $6 billion mark, and net interest income rose by 2.6% to $48 million. Piper Sandler, after evaluating these results, revised its outlook on the bank, lowering the price target to $62 from $64 while maintaining a neutral rating. The firm's revised earnings per share (EPS) estimates for the company for 2024 and 2025 are $5.33 and $5.35, respectively, and introduced a 2026 EPS estimate of $6.00. The bank also declared a quarterly dividend of $0.40 per share. Despite facing some challenges, such as a decrease in non-interest income of $860,000 from Q3 2023, Great Southern Bancorp managed to decrease its nonperforming assets to 0.13% of total assets. As part of its future expectations, the bank is focusing on controlling costs and managing credit risk, with an expected effective tax rate of around 18.0% to 20.0%.
InvestingPro Insights
Recent market data from InvestingPro sheds additional light on Great Southern Bancorp's financial position and performance. The company's stock has shown remarkable strength recently, with a significant 11.37% return over the last week and an impressive 15.33% return over the past month. This upward momentum aligns with Joseph W. Turner's recent stock transactions, potentially indicating positive sentiment within the company's leadership.
Despite the recent stock performance, Great Southern Bancorp trades at a relatively modest valuation. The company's P/E ratio stands at 12.52, suggesting it may be undervalued compared to industry peers. This valuation metric, coupled with the company's price-to-book ratio of 1.22, could be of interest to value-oriented investors.
InvestingPro Tips highlight that Great Southern Bancorp has maintained dividend payments for 35 consecutive years, demonstrating a commitment to shareholder returns. This consistent dividend history may be particularly appealing to income-focused investors. Additionally, analysts predict the company will remain profitable this year, which could provide further support for the stock's recent performance.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Great Southern Bancorp, providing deeper insights into the company's financial health and market position.
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