South Plains Financial (NASDAQ:SPFI - Get Free Report) posted its earnings results on Wednesday. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09, Zacks reports. The firm had revenue of $54.67 million during the quarter, compared to the consensus estimate of $52.24 million. South Plains Financial had a net margin of 17.67% and a return on equity of 11.73%. During the same quarter in the prior year, the company earned $0.66 EPS.
South Plains Financial Stock Up 8.2%
NASDAQ SPFI traded up $3.02 during trading on Thursday, reaching $39.78. 69,304 shares of the company's stock were exchanged, compared to its average volume of 39,277. South Plains Financial has a fifty-two week low of $29.36 and a fifty-two week high of $40.91. The firm has a market capitalization of $645.63 million, a PE ratio of 13.26 and a beta of 0.68. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The company's fifty day simple moving average is $36.03 and its 200-day simple moving average is $34.61.
South Plains Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%. South Plains Financial's dividend payout ratio (DPR) is 20.00%.
Institutional Investors Weigh In On South Plains Financial
Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in shares of South Plains Financial during the 1st quarter valued at about $315,000. Empowered Funds LLC grew its stake in shares of South Plains Financial by 0.4% in the first quarter. Empowered Funds LLC now owns 89,245 shares of the company's stock worth $2,956,000 after acquiring an additional 398 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of South Plains Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company's stock worth $234,000 after acquiring an additional 312 shares during the last quarter. 54.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Raymond James Financial dropped their target price on South Plains Financial from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.
Check Out Our Latest Research Report on SPFI
About South Plains Financial
(
Get Free Report)
South Plains Financial, Inc operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company operates through two segments, Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits.
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