South Plains Financial (NASDAQ:SPFI) Issues Quarterly 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, beating 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 quarter in the prior year, the company posted $0.61 EPS.

South Plains Financial Price Performance

Shares of South Plains Financial stock opened at $36.35 on Friday. The stock’s fifty day moving average is $36.60 and its 200 day moving average is $34.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. South Plains Financial has a one year low of $24.05 and a one year high of $40.90. The stock has a market cap of $595.69 million, a P/E ratio of 14.14 and a beta of 0.62.

South Plains Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.65%. South Plains Financial’s dividend payout ratio (DPR) is 23.35%.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the transaction, the chief executive officer now owns 865,967 shares in the company, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.39% of the company’s stock.

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.