SPRINGFIELD, Mo.—Mark A. Maples, Vice President of a subsidiary of Great Southern Bancorp, Inc. (NASDAQ:GSBC), recently executed a series of transactions involving the company's common stock. On November 6, 2024, Maples sold 2,074 shares, totaling $139,345, at a price of $67.187 per share.
In addition to the sale, Maples acquired shares through multiple transactions. He exercised options to acquire a total of 2,074 shares at prices ranging from $41.74 to $60.15 per share. These acquisitions amounted to a total of $115,387. Following these transactions, Maples holds no shares of Great Southern Bancorp common stock.
In other recent news, Great Southern Bancorp has been in the spotlight with Piper Sandler adjusting its outlook on the company. The firm reduced the price target to $62 from $64, maintaining a Neutral rating. This revision follows an assessment of Great Southern Bancorp's third-quarter results and financial model updates. Piper Sandler has raised its earnings per share (EPS) estimates for the company for 2024 and 2025, citing an improved margin outlook, stronger loan growth, and lower expenses.
In recent developments, Great Southern Bancorp reported a strong Q3 2024 performance, with earnings of $1.41 per diluted share and a net income of $16.5 million. The bank's assets have surpassed $6 billion, with net interest income rising 2.6% to $48 million. Despite challenging economic conditions, the bank managed to increase its earnings from $1.33 per share in the same quarter last year.
Furthermore, Great Southern Bank has seen a decrease in nonperforming assets to 0.13% of total assets. However, non-interest income saw a decrease of $860,000 from Q3 2023, primarily due to lower overdraft fees and debit card income. On the other hand, gains on loan sales rose by $292,000. The bank's management remains focused on controlling costs and navigating a competitive deposit environment, expecting the effective tax rate to remain around 18.0% to 20.0%.
InvestingPro Insights
As Mark A. Maples, Vice President of a Great Southern Bancorp subsidiary, executed his recent stock transactions, it's worth noting some key financial metrics and insights about the company. According to InvestingPro data, Great Southern Bancorp (NASDAQ:GSBC) currently has a market capitalization of $746.25 million and a P/E ratio of 12.52, suggesting a relatively modest valuation compared to industry peers.
The company's stock has shown strong performance recently, with InvestingPro Tips highlighting significant returns over the last week and month. This aligns with the timing of Maples' transactions and may have influenced his decision to sell shares at $67.187, which is near the stock's 52-week high.
Another notable InvestingPro Tip is that Great Southern Bancorp has maintained dividend payments for 35 consecutive years, demonstrating a commitment to shareholder returns. This long-standing dividend history, coupled with a current dividend yield of 2.51%, may be attractive to income-focused investors.
While the company faces challenges with weak gross profit margins, it remains profitable, with analysts predicting continued profitability this year. This financial stability is reflected in the company's operating income margin of 36.77% for the last twelve months as of Q3 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 7 more InvestingPro Tips available for Great Southern Bancorp, providing a deeper understanding of the company's financial position and market performance.
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