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

Key Points

• Director Richard Campbell sold 8,054 shares at an average price of $43.28, totaling about $348,577. He retained 1,324,358 shares after the transaction.
• South Plains Financial reported quarterly EPS of $1.06, beating the $0.99 consensus estimate, and raised its quarterly dividend to $0.19 per share from $0.18.
• Analysts maintain a consensus Buy rating with an average price target of $49.60.

South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) Director Richard Campbell sold 8,054 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $43.28, for a total value of $348,577.12. Following the completion of the sale, the director owned 1,324,358 shares in the company, valued at approximately $57,318,214.24. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

South Plains Financial Trading Down 0.6%

Shares of NASDAQ:SPFI traded down $0.24 on Thursday, hitting $42.80. 57,528 shares of the company's stock were exchanged, compared to its average volume of 103,010. South Plains Financial, Inc. has a 12 month low of $36.38 and a 12 month high of $46.94. The stock has a market capitalization of $806.78 million, a price-to-earnings ratio of 11.35 and a beta of 0.47. The business's 50 day simple moving average is $43.44 and its two-hundred day simple moving average is $42.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97.

South Plains Financial (NASDAQ:SPFI - Get Free Report) 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 for the quarter, compared to analysts' expectations of $65.22 million. South Plains Financial had a net margin of 21.23% and a return on equity of 12.36%. Analysts anticipate that South Plains Financial, Inc. will post 3.86 EPS for the current fiscal year.

South Plains Financial Increases Dividend

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

Hedge Funds Weigh In On South Plains Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of South Plains Financial by 71.2% during the first quarter. Royal Bank of Canada now owns 642 shares of the company's stock valued at $27,000 after buying an additional 267 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of South Plains Financial in the third quarter valued at about $62,000. Northwestern Mutual Wealth Management Co. purchased a new stake in South Plains Financial in the second quarter worth about $103,000. Public Employees Retirement System of Ohio purchased a new stake in South Plains Financial in the second quarter worth about $173,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in South Plains Financial in the second quarter worth about $204,000. Institutional investors own 54.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $50.00 target price (up from $48.00) on shares of South Plains Financial in a research note on Monday, July 20th. Raymond James Financial reaffirmed an "outperform" rating and set a $50.00 target price 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 research note on Thursday, October 29th. Finally, Benchmark reiterated a "buy" rating on shares of South Plains Financial in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price 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.

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