South Plains Financial (NASDAQ:SPFI) Issues Quarterly Earnings Results, Beats Estimates By $0.29 EPS

South Plains Financial (NASDAQ:SPFI) issued its quarterly earnings data on Friday. The company reported $0.96 earnings per share 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 quarter in the previous year, the company earned $0.61 EPS.

South Plains Financial Price Performance

Shares of SPFI stock opened at $36.75 on Friday. The firm has a market capitalization of $602.33 million, a P/E ratio of 14.30 and a beta of 0.62. South Plains Financial has a 52-week low of $24.05 and a 52-week high of $40.90. 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 50 day moving average price of $36.52 and a 200 day moving average price of $34.35.

South Plains Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors 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 of this dividend is Monday, February 3rd. South Plains Financial’s dividend payout ratio (DPR) is currently 23.35%.

Insider Buying and Selling at South Plains Financial

In other news, CEO Curtis C. Griffith sold 50,000 shares of the stock in a transaction that occurred 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 directly owns 865,967 shares in the company, valued at approximately $29,009,894.50. This trade represents a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Hovde Group boosted their target price on South Plains Financial from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, October 25th.

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.