South Plains Financial, Inc. (NASDAQ:SPFI) Plans Quarterly Dividend of $0.17

South Plains Financial, Inc. (NASDAQ:SPFI) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Monday, February 2nd will be given a dividend of 0.17 per share on Tuesday, February 17th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, February 2nd. This is a 6.3% increase from South Plains Financial’s previous quarterly dividend of $0.16.

South Plains Financial has increased its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. South Plains Financial has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect South Plains Financial to earn $3.28 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 19.5%.

South Plains Financial Trading Up 0.2%

Shares of SPFI stock opened at $42.63 on Friday. South Plains Financial has a fifty-two week low of $30.01 and a fifty-two week high of $43.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s fifty day moving average is $39.32 and its two-hundred day moving average is $38.85. The firm has a market capitalization of $692.74 million, a P/E ratio of 12.18 and a beta of 0.60.

South Plains Financial (NASDAQ:SPFI) last released its earnings results on Thursday, October 23rd. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $54.18 million during the quarter, compared to analyst estimates of $54.07 million. South Plains Financial had a net margin of 20.09% and a return on equity of 13.16%. Research analysts expect that South Plains Financial will post 2.85 earnings per share for the current fiscal 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.