Curtis C. Griffith Sells 21,443 Shares of South Plains Financial, Inc. (NASDAQ:SPFI) Stock

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 21,443 shares of South Plains Financial stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $35.36, for a total transaction of $758,224.48. Following the completion of the sale, the chief executive officer now owns 807,240 shares of the company’s stock, valued at $28,544,006.40. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

South Plains Financial Price Performance

SPFI stock opened at $33.80 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. South Plains Financial, Inc. has a 12 month low of $24.05 and a 12 month high of $40.90. The firm has a market cap of $553.98 million, a P/E ratio of 11.58 and a beta of 0.62. The company’s 50-day moving average price is $35.30 and its two-hundred day moving average price is $35.06.

South Plains Financial (NASDAQ:SPFI) last released its earnings results on Friday, January 24th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.67 by $0.29. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. During the same period last year, the company posted $0.61 EPS. On average, analysts anticipate that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Monday, February 3rd. South Plains Financial’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPFI. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $45.00 price objective (down previously from $46.00) on shares of South Plains Financial in a research note on Monday, January 27th. Hovde Group raised their target price on shares of South Plains Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 27th.

Institutional Investors Weigh In On South Plains Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of South Plains Financial by 200.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 175,774 shares of the company’s stock valued at $5,962,000 after purchasing an additional 117,207 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of South Plains Financial during the 3rd quarter valued at approximately $223,000. Creative Planning bought a new stake in shares of South Plains Financial during the 3rd quarter valued at approximately $504,000. BNP Paribas Financial Markets grew its holdings in shares of South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after purchasing an additional 1,891 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of South Plains Financial by 4.7% during the 3rd quarter. State Street Corp now owns 274,701 shares of the company’s stock valued at $9,318,000 after purchasing an additional 12,271 shares during the last quarter. 54.95% of the stock is owned by institutional investors.

About South Plains Financial

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.