Curtis C. Griffith Sells 1,599 Shares of South Plains Financial, Inc. (NASDAQ:SPFI) Stock

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 1,599 shares of South Plains Financial stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $31.00, for a total transaction of $49,569.00. Following the sale, the chief executive officer now owns 996,898 shares of the company’s stock, valued at $30,903,838. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

South Plains Financial Stock Up 1.2 %

SPFI stock opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. South Plains Financial, Inc. has a 12 month low of $23.75 and a 12 month high of $33.85. The firm has a market capitalization of $502.91 million, a PE ratio of 8.19 and a beta of 0.59. The company’s 50 day simple moving average is $28.49 and its 200-day simple moving average is $27.13.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Thursday, July 18th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. South Plains Financial had a return on equity of 11.58% and a net margin of 16.53%. The firm had revenue of $71.92 million for the quarter, compared to analysts’ expectations of $46.50 million. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities analysts expect that South Plains Financial, Inc. will post 2.52 earnings per share for the current fiscal year.

South Plains Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 29th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, July 29th. South Plains Financial’s payout ratio is 14.97%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPFI shares. Piper Sandler raised their price objective on South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Hovde Group raised their price target 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.

Institutional Investors Weigh In On South Plains Financial

Several hedge funds have recently modified their holdings of SPFI. SG Americas Securities LLC raised its position in shares of South Plains Financial by 22.8% in the fourth quarter. SG Americas Securities LLC now owns 6,628 shares of the company’s stock valued at $192,000 after buying an additional 1,230 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in South Plains Financial by 35.1% in the 4th quarter. BNP Paribas Financial Markets now owns 12,461 shares of the company’s stock valued at $361,000 after acquiring an additional 3,236 shares during the last quarter. Salzhauer Michael purchased a new position in shares of South Plains Financial during the 1st quarter worth $268,000. Empowered Funds LLC boosted its holdings in shares of South Plains Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 95,172 shares of the company’s stock worth $2,547,000 after purchasing an additional 7,175 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of South Plains Financial by 2.3% in the first quarter. Vanguard Group Inc. now owns 541,732 shares of the company’s stock valued at $14,497,000 after purchasing an additional 12,196 shares during the period. 54.95% of the stock is owned by institutional investors and hedge funds.

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.