South Plains Financial (NASDAQ:SPFI – Get Free Report) issued its earnings results on Wednesday. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01, Yahoo Finance reports. South Plains Financial had a net margin of 16.53% and a return on equity of 11.42%. The company had revenue of $72.28 million for the quarter, compared to analysts’ expectations of $48.90 million. During the same quarter last year, the company earned $0.78 EPS.
South Plains Financial Trading Down 0.9 %
Shares of NASDAQ:SPFI traded down $0.32 on Friday, hitting $33.48. The company had a trading volume of 24,794 shares, compared to its average volume of 35,585. South Plains Financial has a 1 year low of $24.05 and a 1 year high of $35.61. The firm has a market capitalization of $549.71 million, a price-to-earnings ratio of 9.08 and a beta of 0.58. The firm’s 50-day simple moving average is $33.54 and its two-hundred day simple moving average is $29.81. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.26.
South Plains Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, October 28th will be issued a $0.15 dividend. The ex-dividend date is Monday, October 28th. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.79%. South Plains Financial’s dividend payout ratio is 16.04%.
Insiders Place Their Bets
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Piper Sandler increased their target price on South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Hovde Group increased their price objective on South Plains Financial from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday.
Read Our Latest Analysis on South Plains Financial
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.
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