South Plains Financial (NASDAQ:SPFI) Director Richard Campbell Sells 8,054 Shares of Stock

South Plains Financial, Inc. (NASDAQ:SPFI) Director Richard Campbell sold 8,054 shares of South Plains Financial stock in a transaction on Monday, November 9th. The shares were sold at an average price of $43.28, for a total value of $348,577.12. Following the sale, the director directly owned 1,324,358 shares of the company’s stock, valued at $57,318,214.24. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

South Plains Financial Price Performance

South Plains Financial stock opened at $42.80 on Friday. The stock has a market cap of $806.78 million, a price-to-earnings ratio of 11.35 and a beta of 0.47. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $43.44 and a 200 day simple moving average of $42.70. South Plains Financial, Inc. has a 52 week low of $36.38 and a 52 week high of $46.94.

South Plains Financial (NASDAQ:SPFI) last released its quarterly earnings results on Thursday, October 22nd. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $65.22 million. South Plains Financial had a return on equity of 12.36% and a net margin of 21.23%. On average, research analysts forecast that South Plains Financial, Inc. will post 3.86 earnings per share for the current fiscal year.

South Plains Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.8%. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, November 2nd. South Plains Financial’s dividend payout ratio (DPR) is currently 20.16%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPFI. Benchmark reaffirmed a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of South Plains Financial in a research note on Monday, July 20th. Weiss Ratings raised shares of South Plains Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $50.00 price objective (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $49.60.

Institutional Investors Weigh In On South Plains Financial

Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in South Plains Financial by 30.9% during the third quarter. First Trust Advisors LP now owns 71,193 shares of the company’s stock valued at $2,971,000 after acquiring an additional 16,787 shares during the last quarter. TIAA CREF Individual & Institutional Services LLC purchased a new position in shares of South Plains Financial during the third quarter worth approximately $201,000. Boston Partners raised its stake in shares of South Plains Financial by 15.8% during the third quarter. Boston Partners now owns 146,359 shares of the company’s stock worth $6,108,000 after acquiring an additional 19,958 shares in the last quarter. Diversified Trust Co purchased a new position in shares of South Plains Financial during the third quarter worth approximately $206,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of South Plains Financial in the 3rd quarter worth approximately $62,000. Institutional investors own 54.95% of the company’s stock.

South Plains Financial Company Profile

South Plains Financial, Inc. is a bank holding company headquartered in Lubbock, Texas, and the parent company of City Bank. Through City Bank, it provides banking and related financial services to individuals, businesses and other organizations. Its services include personal and commercial deposit accounts, lending, mortgage banking, treasury management and wealth-related services. The company serves customers primarily in Texas and New Mexico through its branch network and other banking channels.