South Plains Financial, Inc. (NASDAQ:SPFI – Get Free Report) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 19,041 shares traded hands during trading, a decline of 42% from the previous session’s volume of 32,573 shares.The stock last traded at $36.13 and had previously closed at $34.88.
The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.29. South Plains Financial had a net margin of 15.51% and a return on equity of 10.39%. During the same quarter in the previous year, the company posted $0.61 earnings per share.
South Plains Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.60 annualized dividend and a yield of 1.63%. South Plains Financial’s dividend payout ratio (DPR) is presently 23.35%.
Analyst Ratings Changes
View Our Latest Report on SPFI
Insider Transactions at South Plains Financial
In other news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 865,967 shares in the company, valued at $29,009,894.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 25.39% of the company’s stock.
Institutional Investors Weigh In On South Plains Financial
Several hedge funds have recently bought and sold shares of the company. US Bancorp DE acquired a new position in South Plains Financial during the third quarter worth approximately $36,000. FMR LLC boosted its stake 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 worth $47,000 after acquiring an additional 394 shares during the period. SG Americas Securities LLC acquired a new position in shares of South Plains Financial during the 3rd quarter worth approximately $149,000. BNP Paribas Financial Markets raised its stake in South Plains Financial by 72.4% in 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 period. Finally, Public Employees Retirement System of Ohio raised its stake in South Plains Financial by 20.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock valued at $157,000 after acquiring an additional 800 shares during the period. 54.95% of the stock is currently owned by institutional investors and hedge funds.
South Plains Financial Stock Up 5.4 %
The firm has a market cap of $602.33 million, a price-to-earnings ratio of 14.30 and a beta of 0.62. The firm has a fifty day simple moving average of $36.52 and a 200-day simple moving average of $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.
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.
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