South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith Sells 15,422 Shares

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 15,422 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $35.69, for a total value of $550,411.18. Following the transaction, the chief executive officer now owns 854,818 shares of the company’s stock, valued at approximately $30,508,454.42. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

South Plains Financial Stock Performance

SPFI opened at $35.50 on Friday. The company has a market capitalization of $581.85 million, a price-to-earnings ratio of 12.16 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, Inc. has a 1-year low of $24.05 and a 1-year high of $40.90. The business has a 50 day moving average price of $35.74 and a two-hundred day moving average price of $34.93.

South Plains Financial (NASDAQ:SPFI) last released its earnings results on Friday, January 24th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.29. South Plains Financial had a return on equity of 11.75% and a net margin of 17.20%. During the same period in the prior year, the business earned $0.61 earnings per share. Research analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Dividend Announcement

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 given a dividend of $0.15 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. South Plains Financial’s dividend payout ratio (DPR) is presently 20.55%.

Institutional Investors Weigh In On South Plains Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE acquired a new stake in shares of South Plains Financial during the 3rd quarter valued at $36,000. FMR LLC lifted its position in shares of South Plains Financial by 39.3% during the 3rd quarter. FMR LLC now owns 1,397 shares of the company’s stock valued at $47,000 after acquiring an additional 394 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of South Plains Financial during the 4th quarter valued at $101,000. SG Americas Securities LLC acquired a new stake in shares of South Plains Financial during the 3rd quarter valued at $149,000. Finally, BNP Paribas Financial Markets lifted its position in shares of South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after acquiring an additional 1,891 shares during the last quarter. Institutional investors and hedge funds own 54.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Hovde Group upped their target price on South Plains Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $45.00 target price (down from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.

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.