South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) CEO Curtis C. Griffith sold 21,443 shares of South Plains Financial stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.36, for a total transaction of $758,224.48. Following the completion of the transaction, the chief executive officer now owns 807,240 shares in the company, valued at approximately $28,544,006.40. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
South Plains Financial Trading Down 2.6 %
Shares of South Plains Financial stock opened at $33.80 on Friday. South Plains Financial, Inc. has a 52-week low of $24.05 and a 52-week high of $40.90. 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's 50-day simple moving average is $35.40 and its 200-day simple moving average is $35.04. The firm has a market cap of $553.98 million, a price-to-earnings ratio of 11.58 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, topping analysts' consensus estimates 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 quarter in the prior year, the company earned $0.61 EPS. As a group, equities research analysts anticipate 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. Investors of record on Monday, February 3rd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, February 3rd. South Plains Financial's dividend payout ratio is currently 20.55%.
Institutional Trading of South Plains Financial
A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in South Plains Financial by 4.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,754 shares of the company's stock worth $235,000 after buying an additional 304 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in South Plains Financial by 3.4% during the fourth quarter. Sterling Capital Management LLC now owns 10,360 shares of the company's stock worth $360,000 after buying an additional 340 shares in the last quarter. FMR LLC lifted its holdings in shares of South Plains Financial by 39.3% in the third 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. Public Employees Retirement System of Ohio lifted its holdings in shares of South Plains Financial by 20.9% in the third quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company's stock valued at $157,000 after purchasing an additional 800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of South Plains Financial by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,340 shares of the company's stock valued at $1,193,000 after purchasing an additional 991 shares in the last quarter. Hedge funds and other institutional investors own 54.95% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SPFI. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $45.00 price target (down from $46.00) on shares of South Plains Financial in a research note on Monday, January 27th. Hovde Group boosted their price target on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th.
Get Our Latest Report on SPFI
South Plains Financial Company Profile
(
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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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