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

Key Points

• Director Richard Campbell sold 15,900 shares for about $699,918, reducing his stake by 1.16%; he retained 1,350,221 shares.
• South Plains Financial reported quarterly EPS of $1.06, topping the $0.99 analyst consensus, and raised its quarterly dividend to $0.19 per share from $0.18.
• Analysts maintained a consensus Buy rating, with an average price target of $49.60; the stock traded at $42.86 in Thursday’s mid-day session.

South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) Director Richard Campbell sold 15,900 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $44.02, for a total value of $699,918.00. Following the sale, the director owned 1,350,221 shares in the company, valued at $59,436,728.42. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

South Plains Financial Stock Performance

SPFI stock traded down $1.08 during mid-day trading on Thursday, reaching $42.86. The company had a trading volume of 168,971 shares, compared to its average volume of 98,760. The stock has a market capitalization of $807.91 million, a P/E ratio of 11.37 and a beta of 0.47. The stock's 50-day simple moving average is $43.54 and its two-hundred day simple moving average is $42.66. South Plains Financial, Inc. has a one year low of $35.81 and a one year high of $46.94. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.10.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 net margin of 21.23% and a return on equity of 12.36%. Research analysts anticipate 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 $0.19 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This is an increase from South Plains Financial's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.8%. South Plains Financial's dividend payout ratio is currently 20.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPFI. Weiss Ratings raised South Plains Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 29th. Benchmark restated a "buy" rating on shares of South Plains Financial in a report on Monday, July 20th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $50.00 price target (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of South Plains Financial in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $49.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPFI. Royal Bank of Canada lifted its stake in 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 acquiring an additional 267 shares in the last quarter. Quantinno Capital Management LP grew its stake in South Plains Financial by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 40,403 shares of the company's stock valued at $1,693,000 after acquiring an additional 623 shares in the last quarter. Renaissance Technologies LLC grew its stake in South Plains Financial by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 76,400 shares of the company's stock valued at $3,201,000 after acquiring an additional 700 shares in the last quarter. Bank of New York Mellon Corp grew its stake in South Plains Financial by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 55,059 shares of the company's stock valued at $2,307,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of South Plains Financial in the 3rd quarter valued at about $62,000. 54.95% of the stock is owned by institutional investors and hedge funds.

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.

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