South Plains Financial, Inc. (NASDAQ:SPFI) CEO Sells $758,224.48 in Stock

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 21,443 shares of South Plains Financial stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.36, for a total transaction of $758,224.48. Following the transaction, the chief executive officer now owns 807,240 shares in the company, valued at $28,544,006.40. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

South Plains Financial Stock Performance

NASDAQ:SPFI opened at $33.80 on Monday. South Plains Financial, Inc. has a twelve month low of $24.05 and a twelve month high of $40.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $553.98 million, a price-to-earnings ratio of 11.58 and a beta of 0.62. The firm’s fifty day simple moving average is $35.30 and its 200 day simple moving average is $35.10.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.29. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. During the same period last year, the company posted $0.61 EPS. As a group, equities research analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.15 dividend. The ex-dividend date was Monday, February 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.78%. South Plains Financial’s dividend payout ratio is currently 20.55%.

Analysts Set New Price Targets

Several research firms recently weighed in on SPFI. Hovde Group lifted their target price on shares of South Plains Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $45.00 target price (down previously from $46.00) on shares of South Plains Financial in a report on Monday, January 27th.

Hedge Funds Weigh In On South Plains Financial

A number of institutional investors have recently added to or reduced their stakes in SPFI. SG Americas Securities LLC acquired a new position in South Plains Financial in the 3rd quarter worth $149,000. Creative Planning acquired a new position in South Plains Financial in the 3rd quarter worth $504,000. US Bancorp DE acquired a new position in South Plains Financial in the 3rd quarter worth $36,000. Rosenthal Henry Capital Advisors Inc. increased its position in shares of South Plains Financial by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company’s stock worth $2,865,000 after purchasing an additional 1,750 shares during the last quarter. Finally, FMR LLC increased its position in shares of South Plains Financial by 39.3% in the 3rd quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 54.95% 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.