South Plains Financial, Inc. (NASDAQ:SPFI – Get Free Report) Director Noe G. Valles bought 100,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $33.00 per share, with a total value of $3,300,000.00. Following the purchase, the director now directly owns 486,437 shares in the company, valued at approximately $16,052,421. This trade represents a 25.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
South Plains Financial Stock Performance
Shares of SPFI opened at $32.95 on Friday. The company has a market capitalization of $543.21 million, a PE ratio of 11.28 and a beta of 0.60. South Plains Financial, Inc. has a one year low of $24.05 and a one year high of $40.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The company’s fifty day moving average price is $34.72 and its 200 day moving average price is $35.25.
South Plains Financial (NASDAQ:SPFI – Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.29. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.
South Plains Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.15 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. South Plains Financial’s payout ratio is 20.55%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in SPFI. US Bancorp DE bought a new position in shares of South Plains Financial during the 3rd quarter worth about $36,000. FMR LLC increased its holdings in shares of South Plains Financial by 39.3% during the 3rd quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after purchasing an additional 394 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of South Plains Financial during the 4th quarter worth about $101,000. BNP Paribas Financial Markets boosted its position in shares of South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of South Plains Financial by 20.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock valued at $157,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 54.95% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SPFI. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $45.00 target price (down previously from $46.00) on shares of South Plains Financial in a research note on Monday, January 27th. Hovde Group lifted their price objective on shares of South Plains Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 27th.
Get Our Latest Stock Report on South Plains Financial
South Plains Financial Company Profile
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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