South Plains Financial, Inc. (SPFI) To Go Ex-Dividend on July 27th

South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly dividend on Thursday, July 16th. Investors of record on Monday, July 27th will be paid a dividend of 0.18 per share on Monday, August 10th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, July 27th. This is a 5.9% increase from South Plains Financial’s previous quarterly dividend of $0.17.

South Plains Financial has increased its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. South Plains Financial has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect South Plains Financial to earn $4.08 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 16.7%.

South Plains Financial Trading Up 3.9%

NASDAQ SPFI opened at $45.96 on Friday. The firm’s 50-day moving average is $41.46 and its two-hundred day moving average is $41.58. South Plains Financial has a 12 month low of $35.34 and a 12 month high of $46.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $880.13 million, a P/E ratio of 12.87 and a beta of 0.46.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Friday, July 17th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. South Plains Financial had a net margin of 20.22% and a return on equity of 12.58%. The company had revenue of $64.49 million during the quarter, compared to analyst estimates of $63.34 million. On average, sell-side analysts anticipate that South Plains Financial will post 3.79 earnings per share for the current year.

South Plains Financial Company Profile

South Plains Financial, Inc is the bank holding company for South Plains Bank, a community-oriented financial institution headquartered in Lubbock, Texas. The company operates as a full-service commercial bank, providing a broad spectrum of banking solutions to individuals, small businesses and agricultural clients. Its principal subsidiary, South Plains Bank, holds state and national banking charters and is subject to regulatory oversight by the Federal Reserve and various state banking authorities.

The company’s product offerings include traditional deposit accounts such as checking, savings and money market accounts, as well as time deposits.