South Plains Financial (NASDAQ:SPFI) Director Richard Campbell Sells 15,900 Shares of Stock

South Plains Financial, Inc. (NASDAQ:SPFI) Director Richard Campbell sold 15,900 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $44.02, for a total transaction of $699,918.00. Following the sale, the director directly owned 1,350,221 shares in the company, valued at $59,436,728.42. The trade was a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

South Plains Financial Trading Down 2.5%

NASDAQ:SPFI opened at $42.86 on Friday. The company has a market cap of $807.91 million, a P/E ratio of 11.37 and a beta of 0.47. The stock’s fifty day moving average price is $43.54 and its two-hundred day moving average price is $42.66. South Plains Financial, Inc. has a 1 year low of $35.81 and a 1 year high of $46.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.96.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $65.27 million during the quarter, compared to analyst estimates of $65.22 million. South Plains Financial had a return on equity of 12.36% and a net margin of 21.23%. As a group, analysts expect that South Plains Financial, Inc. will post 3.86 EPS for the current year.

South Plains Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a dividend of $0.19 per share. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.8%. South Plains Financial’s payout ratio is currently 20.16%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of South Plains Financial in the third quarter worth approximately $62,000. Sequoia Financial Advisors LLC purchased a new stake in South Plains Financial in the second quarter valued at approximately $204,000. Tidal Investments LLC purchased a new stake in South Plains Financial in the second quarter valued at approximately $562,000. Squarepoint Ops LLC bought a new stake in South Plains Financial during the second quarter valued at approximately $421,000. Finally, Corient Private Wealth LP bought a new stake in South Plains Financial during the second quarter valued at approximately $3,346,000. Hedge funds and other institutional investors own 54.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SPFI shares. Benchmark restated a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $50.00 price target (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. Weiss Ratings raised shares of South Plains Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of South Plains Financial in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $49.60.

About South Plains Financial

South Plains Financial, Inc is a bank holding company headquartered in Lubbock, Texas. Through its principal subsidiary, City Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and other organizations.

City Bank offers a range of products and services, including checking and savings accounts, certificates of deposit, consumer loans, commercial and industrial lending, agricultural loans, real estate financing, mortgage lending, wealth management and treasury management services.