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

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

South Plains Financial Stock Up 4.2 %

Shares of SPFI opened at $36.35 on Friday. The firm has a market cap of $595.69 million, a PE ratio of 14.14 and a beta of 0.62. 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 company’s fifty day moving average is $36.60 and its two-hundred day moving average is $34.35. South Plains Financial has a fifty-two week low of $24.05 and a fifty-two week high of $40.90.

South Plains Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.65%. South Plains Financial’s dividend payout ratio (DPR) is presently 23.35%.

Analysts Set New Price Targets

Separately, Hovde Group boosted their target price on South Plains Financial from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Insider Transactions at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction on 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 owns 865,967 shares in the company, valued at $29,009,894.50. The trade was a 5.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.39% of the company’s stock.

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.