South Plains Financial (NASDAQ:SPFI - Get Free Report) released its earnings results on Thursday. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.09, Zacks reports. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.
South Plains Financial Trading Down 0.4%
South Plains Financial stock traded down $0.15 during trading hours on Thursday, hitting $38.15. The stock had a trading volume of 40,206 shares, compared to its average volume of 42,781. The stock has a market cap of $619.56 million, a price-to-earnings ratio of 11.92 and a beta of 0.65. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The business's 50 day simple moving average is $39.36 and its 200-day simple moving average is $36.93. South Plains Financial has a one year low of $30.01 and a one year high of $42.38.
South Plains Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, October 27th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, October 27th. South Plains Financial's dividend payout ratio is presently 20.00%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $42.00 price target (up previously from $38.00) on shares of South Plains Financial in a research report on Thursday, July 17th. Zacks Research downgraded shares of South Plains Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of South Plains Financial in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.67.
Read Our Latest Research Report on SPFI
Insider Transactions at South Plains Financial
In related news, Director Richard D. Campbell sold 44,417 shares of South Plains Financial stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $40.21, for a total transaction of $1,786,007.57. Following the sale, the director directly owned 1,544,969 shares in the company, valued at $62,123,203.49. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.58% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On South Plains Financial
A number of hedge funds have recently modified their holdings of SPFI. Empowered Funds LLC raised its position in shares of South Plains Financial by 0.4% during 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. Qube Research & Technologies Ltd lifted its stake in shares of South Plains Financial by 34.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 58,807 shares of the company's stock valued at $2,119,000 after purchasing an additional 14,960 shares during the period. Ameriprise Financial Inc. boosted its position in shares of South Plains Financial by 15.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,861 shares of the company's stock valued at $896,000 after purchasing an additional 3,300 shares in the last quarter. Rhumbline Advisers grew its stake in South Plains Financial by 14.0% during the second quarter. Rhumbline Advisers now owns 20,622 shares of the company's stock worth $743,000 after purchasing an additional 2,532 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in South Plains Financial in the second quarter worth approximately $695,000. Institutional investors and hedge funds own 54.95% of the company's stock.
South Plains Financial Company Profile
(
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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