South Plains Financial, Inc. (NASDAQ:SPFI) Director Purchases $1,500,000.00 in Stock

South Plains Financial, Inc. (NASDAQ:SPFI) Director Noe G. Valles acquired 50,000 shares of South Plains Financial stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $1,500,000.00. Following the completion of the purchase, the director now owns 336,437 shares in the company, valued at approximately $10,093,110. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

South Plains Financial Stock Up 0.4 %

Shares of NASDAQ SPFI opened at $32.25 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.26. The firm has a market cap of $528.58 million, a PE ratio of 8.62 and a beta of 0.59. The company’s fifty day simple moving average is $29.14 and its 200 day simple moving average is $27.27. South Plains Financial, Inc. has a 12-month low of $23.75 and a 12-month high of $33.85.

South Plains Financial (NASDAQ:SPFI) last issued its earnings results on Thursday, July 18th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.56 by $0.10. South Plains Financial had a return on equity of 11.42% and a net margin of 16.53%. The company had revenue of $71.92 million during the quarter, compared to the consensus estimate of $46.50 million. During the same period last year, the business posted $0.55 EPS. As a group, sell-side analysts forecast that South Plains Financial, Inc. will post 2.52 earnings per share for the current fiscal year.

South Plains Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, July 29th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, July 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.74%. South Plains Financial’s dividend payout ratio is 14.97%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Hovde Group upped their target price on South Plains Financial from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, July 19th.

Hedge Funds Weigh In On South Plains Financial

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in South Plains Financial by 2.3% during the first quarter. Vanguard Group Inc. now owns 541,732 shares of the company’s stock worth $14,497,000 after buying an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of South Plains Financial by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 364,341 shares of the company’s stock worth $9,837,000 after acquiring an additional 30,665 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of South Plains Financial by 14.3% in the 2nd quarter. Acadian Asset Management LLC now owns 239,078 shares of the company’s stock worth $6,451,000 after acquiring an additional 29,933 shares during the last quarter. American Century Companies Inc. lifted its position in South Plains Financial by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 175,013 shares of the company’s stock valued at $4,725,000 after acquiring an additional 22,695 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in South Plains Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 95,172 shares of the company’s stock valued at $2,547,000 after acquiring an additional 7,175 shares in the last quarter. 54.95% of the stock is currently owned by institutional investors.

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.