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

South Plains Financial (NASDAQ:SPFI) announced its earnings results on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.29, RTT News reports. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. During the same quarter in the previous year, the business earned $0.61 EPS.

South Plains Financial Stock Performance

SPFI stock opened at $36.75 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market cap of $602.33 million, a PE ratio of 14.30 and a beta of 0.62. The business has a 50 day moving average of $36.47 and a 200-day moving average of $34.42. South Plains Financial has a 12-month low of $24.05 and a 12-month high of $40.90.

South Plains Financial Announces Dividend

The company also recently announced 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 dividend yield of 1.63%. South Plains Financial’s dividend payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other South Plains Financial 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.39% of the stock is currently owned by corporate insiders.

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.