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

South Plains Financial (NASDAQ:SPFI) issued its quarterly earnings data on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.61 EPS.

South Plains Financial Price Performance

NASDAQ:SPFI opened at $36.75 on Friday. The stock has a 50 day moving average of $36.52 and a two-hundred day moving average of $34.35. South Plains Financial has a 12 month low of $24.05 and a 12 month high of $40.90. The firm has a market cap of $602.33 million, a P/E ratio of 14.30 and a beta of 0.62. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

South Plains Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, February 3rd. South Plains Financial’s payout ratio is 23.35%.

Insider Activity

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

Analyst Ratings Changes

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

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.