On Jun 26, Zacks Investment Research upgraded
Great Southern Bancorp Inc.
) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
Great Southern Bancorp has been witnessing rising earnings
estimates on the back of the acquisition of Moline, IL - based
Valley Bank and strong first-quarter 2014 results. The long-term
expected earnings growth rate for this stock is 9%. Further, Great
Southern Bancorp has now delivered positive earnings surprises in
the last 4 quarters with an average beat of 27.12%.
On Jun 20, Great Southern Bancorp announced a purchase and
assumption agreement with the Federal Deposit Insurance Corporation
(FDIC) to purchase certain loans and other assets along with all
deposits of Valley Bank. Under the agreement with the FDIC, Great
Southern will take over Valley Bank deposits of about $356 million
without premium. The deal, which strengthens Great Southern
Bancorp's share in Des Moines, is anticipated to be accretive to
income and equity beginning in the current quarter and the
Great Southern Bancorp reported its first-quarter results on Apr 21
with earnings per share of 63 cents beating the Zacks Consensus
Estimate of 51 cents by 23.53% and the year-ago earnings of 60
cents by 5%.
Robust results for the reported quarter were primarily driven by
lower expenses. Moreover, lower provision for loan losses and
reduced non-performing assets reflected improvement in credit
quality. Yet, these positives were partially offset by a lower top
The Zacks Consensus Estimate for 2014 increased 1.8% to $2.27 per
share, over the last 7 days. For 2015, the Zacks Consensus Estimate
advanced 4.7% to $2.22 per share over the same time period.
Other Stocks to Consider
Some other banking stocks worth considering include
West Bancorp., Inc.
Astoria Financial Corporation
). All 3 banks carry a Zacks Rank #1.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
WEST BANCORP (WTBA): Free Stock Analysis Report
GREAT SOUTH BCP (GSBC): Free Stock Analysis
ASTORIA FINL CP (AF): Free Stock Analysis
ANCHOR BANCORP (ANCB): Get Free Report
To read this article on Zacks.com click here.