South Plains Financial (NASDAQ:SPFI - Get Free Report) announced its earnings results on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.29, RTT News reports. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. During the same period in the previous year, the business earned $0.61 EPS.
South Plains Financial Stock Performance
Shares of SPFI stock traded up $1.87 during trading hours on Friday, reaching $36.75. 55,300 shares of the company traded hands, compared to its average volume of 35,127. The firm has a 50-day moving average price of $36.52 and a 200 day moving average price of $34.35. The company has a market cap of $602.33 million, a P/E ratio of 14.30 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. South Plains Financial has a 12-month low of $24.05 and a 12-month high of $40.90.
South Plains Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, February 3rd. South Plains Financial's payout ratio is 23.35%.
Wall Street Analyst Weigh In
Separately, Hovde Group raised their price objective on shares of South Plains Financial from $36.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, October 25th.
Check Out Our Latest Report on South Plains Financial
Insider Buying and Selling
In related news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the transaction, the chief executive officer now owns 865,967 shares in the company, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.39% of the stock is currently owned by insiders.
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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