South Plains Financial, Inc. (SPFI) to Distribute Quarterly Dividend of $0.19 on November 16th

South Plains Financial, Inc. (NASDAQ:SPFI) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.19 per share on Monday, November 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, November 2nd. This is a 5.6% increase from South Plains Financial’s previous quarterly dividend of $0.18.

South Plains Financial has raised 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 22.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect South Plains Financial to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.5%.

South Plains Financial Price Performance

Shares of SPFI opened at $44.01 on Friday. South Plains Financial has a 12-month low of $35.34 and a 12-month high of $46.94. The business’s fifty day moving average is $43.56 and its 200 day moving average is $42.60. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market cap of $829.15 million, a P/E ratio of 11.72 and a beta of 0.49.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $65.27 million during the quarter, compared to the consensus estimate of $65.22 million. South Plains Financial had a net margin of 21.23% and a return on equity of 12.81%. Sell-side analysts anticipate that South Plains Financial will post 3.86 earnings per share for the current fiscal year.

South Plains Financial Company Profile

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.