South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) CEO Curtis C. Griffith sold 21,443 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $35.36, for a total value 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 approximately $28,544,006.40. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
South Plains Financial Stock Performance
NASDAQ SPFI traded up $0.32 during trading hours on Tuesday, reaching $34.21. The stock had a trading volume of 36,599 shares, compared to its average volume of 30,692. South Plains Financial, Inc. has a 52-week low of $24.05 and a 52-week high of $40.90. The stock has a fifty day moving average of $35.20 and a 200 day moving average of $35.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $560.70 million, a P/E ratio of 11.72 and a beta of 0.62.
South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its quarterly earnings data 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 in the prior year, the company posted $0.61 EPS. Sell-side analysts predict that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.
South Plains Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.15 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.75%. South Plains Financial's payout ratio is currently 20.55%.
Analyst Upgrades and Downgrades
SPFI has been the topic of a number of recent analyst reports. Hovde Group upped their price target on shares of South Plains Financial from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $45.00 target price (down from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.
View Our Latest Analysis on South Plains Financial
Institutional Trading of South Plains Financial
A number of hedge funds have recently modified their holdings of SPFI. US Bancorp DE acquired a new position in South Plains Financial in the third quarter valued at approximately $36,000. FMR LLC increased its holdings in shares of South Plains Financial by 39.3% during the 3rd quarter. FMR LLC now owns 1,397 shares of the company's stock valued at $47,000 after purchasing an additional 394 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of South Plains Financial in the 4th quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in South Plains Financial during the third quarter worth $149,000. Finally, BNP Paribas Financial Markets boosted its holdings in South Plains Financial by 72.4% during the third quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company's stock worth $153,000 after buying an additional 1,891 shares in the last quarter. Hedge funds and other institutional investors own 54.95% of the company's stock.
About South Plains Financial
(
Get Free Report)
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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