South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith Sells 21,443 Shares

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 21,443 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $35.36, for a total transaction of $758,224.48. Following the sale, the chief executive officer now directly owns 807,240 shares in the company, valued at $28,544,006.40. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

South Plains Financial Stock Performance

NASDAQ SPFI opened at $33.80 on Friday. South Plains Financial, Inc. has a 1 year low of $24.05 and a 1 year high of $40.90. 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 firm has a market cap of $553.98 million, a price-to-earnings ratio of 11.58 and a beta of 0.62. The company has a fifty day moving average price of $35.30 and a 200-day moving average price of $35.06.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings results on Friday, January 24th. The company reported $0.96 earnings per share for the quarter, beating 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 last year, the company earned $0.61 earnings per share. As a group, equities research analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Monday, February 3rd. South Plains Financial’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Hovde Group boosted their target price on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $45.00 price target (down previously from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.

Hedge Funds Weigh In On South Plains Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in South Plains Financial by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company’s stock worth $694,000 after purchasing an additional 2,127 shares during the period. Two Sigma Advisers LP boosted its position in South Plains Financial by 42.3% during the fourth quarter. Two Sigma Advisers LP now owns 42,700 shares of the company’s stock worth $1,484,000 after purchasing an additional 12,700 shares during the period. Quantinno Capital Management LP boosted its position in South Plains Financial by 148.8% during the fourth quarter. Quantinno Capital Management LP now owns 44,741 shares of the company’s stock worth $1,555,000 after purchasing an additional 26,757 shares during the period. Nuveen Asset Management LLC boosted its position in South Plains Financial by 51.0% during the fourth quarter. Nuveen Asset Management LLC now owns 65,204 shares of the company’s stock worth $2,266,000 after purchasing an additional 22,010 shares during the period. Finally, Millennium Management LLC boosted its position in South Plains Financial by 51.3% during the fourth quarter. Millennium Management LLC now owns 94,332 shares of the company’s stock worth $3,278,000 after purchasing an additional 31,983 shares during the period. Institutional investors own 54.95% of the company’s stock.

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.