South Plains Financial (NASDAQ:SPFI) Issues Earnings Results

South Plains Financial (NASDAQ:SPFI) released its earnings results on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.29, RTT News reports. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. During the same period last year, the company posted $0.61 EPS.

South Plains Financial Price Performance

Shares of NASDAQ:SPFI opened at $36.69 on Friday. South Plains Financial has a 1-year low of $24.05 and a 1-year high of $40.90. The firm has a market capitalization of $601.28 million, a PE ratio of 14.51 and a beta of 0.62. The business’s 50 day moving average is $36.60 and its 200-day moving average is $34.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

South Plains Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.64%. South Plains Financial’s payout ratio is presently 23.35%.

Insider Transactions at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 865,967 shares of the company’s stock, valued at approximately $29,009,894.50. This trade represents a 5.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Hovde Group raised their target price on South Plains Financial from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, October 25th.

South Plains Financial Company Profile

South Plains Financial, Inc operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company operates through two segments, Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits.