South Plains Financial, Inc. (NASDAQ:SPFI – Get Free Report) Director Richard Campbell sold 15,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.02, for a total transaction of $699,918.00. Following the transaction, the director directly owned 1,350,221 shares in the company, valued at $59,436,728.42. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
South Plains Financial Stock Down 2.5%
South Plains Financial stock traded down $1.08 during trading hours on Thursday, hitting $42.86. The company had a trading volume of 168,971 shares, compared to its average volume of 98,760. South Plains Financial, Inc. has a fifty-two week low of $35.81 and a fifty-two week high of $46.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $807.91 million, a P/E ratio of 11.37 and a beta of 0.47. The firm’s fifty day moving average is $43.54 and its 200-day moving average is $42.66.
South Plains Financial (NASDAQ:SPFI – Get Free Report) last issued its earnings results on Thursday, October 22nd. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $65.27 million during the quarter, compared to analyst estimates of $65.22 million. South Plains Financial had a net margin of 21.23% and a return on equity of 12.36%. On average, research analysts forecast that South Plains Financial, Inc. will post 3.86 earnings per share for the current year.
South Plains Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from South Plains Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, November 2nd. South Plains Financial’s dividend payout ratio (DPR) is currently 20.16%.
Analyst Ratings Changes
SPFI has been the subject of several recent research reports. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective on shares of South Plains Financial in a report on Monday, July 20th. Benchmark restated a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Weiss Ratings raised South Plains Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $50.00 price target (up from $48.00) on shares of South Plains Financial in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $49.60.
Read Our Latest Stock Report on South Plains Financial
Institutional Trading of South Plains Financial
A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in South Plains Financial by 71.2% in the first quarter. Royal Bank of Canada now owns 642 shares of the company’s stock worth $27,000 after acquiring an additional 267 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of South Plains Financial during the 3rd quarter worth $62,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of South Plains Financial during the 2nd quarter worth $103,000. Public Employees Retirement System of Ohio bought a new position in shares of South Plains Financial during the 2nd quarter valued at $173,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of South Plains Financial during the 2nd quarter valued at $204,000. 54.95% of the stock is currently owned by institutional investors and hedge funds.
South Plains Financial Company Profile
South Plains Financial, Inc is a bank holding company headquartered in Lubbock, Texas. Through its principal subsidiary, City Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and other organizations.
City Bank offers a range of products and services, including checking and savings accounts, certificates of deposit, consumer loans, commercial and industrial lending, agricultural loans, real estate financing, mortgage lending, wealth management and treasury management services.
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