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

South Plains Financial (NASDAQ:SPFI) posted 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 net margin of 15.51% and a return on equity of 10.39%. During the same quarter in the previous year, the firm earned $0.61 earnings per share.

South Plains Financial Stock Up 5.4 %

South Plains Financial stock opened at $36.75 on Friday. 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 has a market capitalization of $602.33 million, a PE ratio of 14.30 and a beta of 0.62. The firm’s fifty day moving average is $36.47 and its 200 day moving average is $34.42. 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 disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.15 dividend. The ex-dividend date is Monday, February 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.63%. South Plains Financial’s dividend payout ratio is currently 20.55%.

Analyst Ratings Changes

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

Insider Buying and Selling at South Plains Financial

In related news, CEO Curtis C. Griffith sold 50,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total value of $1,675,000.00. Following the transaction, the chief executive officer now directly owns 865,967 shares in the company, valued at $29,009,894.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 25.39% of the company’s stock.

About South Plains Financial

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.