South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) CEO Curtis C. Griffith sold 15,422 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $35.69, for a total transaction of $550,411.18. Following the completion of the transaction, the chief executive officer now owns 854,818 shares in the company, valued at approximately $30,508,454.42. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
South Plains Financial Stock Performance
South Plains Financial stock traded down $0.12 during mid-day trading on Tuesday, reaching $35.38. 44,777 shares of the stock traded hands, compared to its average volume of 32,054. The stock has a market capitalization of $579.88 million, a PE ratio of 12.12 and a beta of 0.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The business's 50-day moving average is $35.63 and its 200-day moving average is $35.01. South Plains Financial, Inc. has a 12-month low of $24.05 and a 12-month high of $40.90.
South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The company reported $0.96 earnings per share for the quarter, topping 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 firm earned $0.61 EPS. As a group, sell-side analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.
South Plains Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors 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 currently 20.55%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE bought a new stake in shares of South Plains Financial in the third quarter worth about $36,000. FMR LLC lifted its holdings in shares of South Plains Financial by 39.3% in the 3rd quarter. FMR LLC now owns 1,397 shares of the company's stock worth $47,000 after acquiring an additional 394 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in South Plains Financial during the 4th quarter valued at about $101,000. SG Americas Securities LLC purchased a new stake in South Plains Financial in the 3rd quarter worth about $149,000. Finally, BNP Paribas Financial Markets lifted its stake in South Plains Financial by 72.4% in the third 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. 54.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SPFI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued 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 upped their target price 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.
Read Our Latest Stock Analysis on South Plains Financial
South Plains Financial Company Profile
(
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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