South Plains Financial (NASDAQ:SPFI) Stock: Insider Richard Campbell Sells 8,054 Shares

South Plains Financial, Inc. (NASDAQ:SPFI) Director Richard Campbell sold 8,054 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $43.28, for a total transaction of $348,577.12. Following the completion of the sale, the director directly owned 1,324,358 shares of the company’s stock, valued at $57,318,214.24. The trade was a 0.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

South Plains Financial Stock Down 0.6%

Shares of NASDAQ SPFI traded down $0.24 during midday trading on Thursday, reaching $42.80. 57,528 shares of the company’s stock traded hands, compared to its average volume of 103,010. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $43.44 and its 200-day simple moving average is $42.70. South Plains Financial, Inc. has a one year low of $36.38 and a one year high of $46.94. The company has a market cap of $806.78 million, a price-to-earnings ratio of 11.35 and a beta of 0.47.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings data 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 company had revenue of $65.27 million for the quarter, compared to analyst estimates of $65.22 million. South Plains Financial had a net margin of 21.23% and a return on equity of 12.36%. On average, analysts predict that South Plains Financial, Inc. will post 3.86 EPS for the current fiscal year.

South Plains Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.19 per share. This is a boost 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 annualized dividend and a yield of 1.8%. South Plains Financial’s payout ratio is 20.16%.

Institutional Trading of South Plains Financial

A number of institutional investors have recently modified their holdings of SPFI. Royal Bank of Canada grew its position in shares of South Plains Financial by 71.2% in the 1st quarter. Royal Bank of Canada now owns 642 shares of the company’s stock worth $27,000 after buying an additional 267 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of South Plains Financial during the 3rd quarter worth approximately $62,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of South Plains Financial during the 2nd quarter worth approximately $103,000. Public Employees Retirement System of Ohio bought a new position in shares of South Plains Financial during the 2nd quarter worth approximately $173,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in South Plains Financial during the second quarter valued at approximately $204,000. 54.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPFI shares. Weiss Ratings upgraded South Plains Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of South Plains Financial in a research report on Monday, July 20th. Benchmark restated a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $50.00 price objective (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $49.60.

About South Plains Financial

South Plains Financial, Inc. is a bank holding company headquartered in Lubbock, Texas, and the parent company of City Bank. Through City Bank, it provides banking and related financial services to individuals, businesses and other organizations. Its services include personal and commercial deposit accounts, lending, mortgage banking, treasury management and wealth-related services. The company serves customers primarily in Texas and New Mexico through its branch network and other banking channels.