South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith Sells 5,196 Shares

South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) CEO Curtis C. Griffith sold 5,196 shares of South Plains Financial stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.60, for a total value of $184,977.60. Following the transaction, the chief executive officer now owns 828,683 shares of the company's stock, valued at $29,501,114.80. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

South Plains Financial Stock Down 0.3 %

SPFI stock traded down $0.12 during trading on Tuesday, reaching $35.38. The stock had a trading volume of 44,777 shares, compared to its average volume of 32,054. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $579.88 million, a price-to-earnings ratio of 12.12 and a beta of 0.62. South Plains Financial, Inc. has a one year low of $24.05 and a one year high of $40.90. The company's 50 day moving average is $35.63 and its two-hundred day moving average is $35.01.

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

South Plains Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, February 3rd. South Plains Financial's dividend payout ratio is presently 20.55%.

Institutional Investors Weigh In On South Plains Financial

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

Wall Street Analyst Weigh In

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

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.