South Plains Financial (SPFI) Set to Announce Quarterly Earnings on Wednesday

South Plains Financial (NASDAQ:SPFI) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly 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 net margin of 16.53% and a return on equity of 11.42%. The business had revenue of $71.92 million for the quarter, compared to analyst estimates of $46.50 million. During the same quarter in the prior year, the business earned $0.55 EPS. On average, analysts expect South Plains Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

South Plains Financial Price Performance

Shares of South Plains Financial stock opened at $34.52 on Wednesday. South Plains Financial has a twelve month low of $24.05 and a twelve month high of $35.10. The company has a 50-day simple moving average of $33.04 and a two-hundred day simple moving average of $29.43. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $566.78 million, a price-to-earnings ratio of 9.23 and a beta of 0.58.

South Plains Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, July 29th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, July 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.62%. South Plains Financial’s dividend payout ratio (DPR) is presently 14.97%.

Insider Buying and Selling

In other South Plains Financial news, CEO Curtis C. Griffith sold 1,599 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at $30,903,838. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Curtis C. Griffith sold 1,599 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $31.00, for a total transaction of $49,569.00. Following the transaction, the chief executive officer now directly owns 996,898 shares of the company’s stock, valued at approximately $30,903,838. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noe G. Valles bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $1,500,000.00. Following the completion of the purchase, the director now owns 336,437 shares of the company’s stock, valued at $10,093,110. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPFI. Hovde Group boosted their price objective on South Plains Financial from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Piper Sandler increased their target price on shares of South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.

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.