Noe G. Valles Acquires 30,000 Shares of South Plains Financial, Inc. (NASDAQ:SPFI) Stock

South Plains Financial, Inc. (NASDAQ:SPFIGet Free Report) Director Noe G. Valles bought 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $27.00 per share, for a total transaction of $810,000.00. Following the acquisition, the director now owns 195,512 shares of the company’s stock, valued at $5,278,824. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

South Plains Financial Trading Up 2.5 %

SPFI opened at $26.62 on Friday. South Plains Financial, Inc. has a 1-year low of $18.75 and a 1-year high of $30.22. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.33. The company has a market cap of $438.70 million, a P/E ratio of 7.33 and a beta of 0.57. The company has a fifty day moving average price of $28.28 and a two-hundred day moving average price of $27.10.

South Plains Financial (NASDAQ:SPFIGet Free Report) last posted its quarterly earnings results on Friday, January 26th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). South Plains Financial had a net margin of 21.54% and a return on equity of 11.28%. The company had revenue of $66.38 million during the quarter, compared to the consensus estimate of $47.25 million. During the same period last year, the firm posted $0.71 earnings per share. Analysts predict that South Plains Financial, Inc. will post 2.4 EPS for the current fiscal year.

South Plains Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Monday, January 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, January 26th. South Plains Financial’s dividend payout ratio (DPR) is currently 14.33%.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their target price on shares of South Plains Financial from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

View Our Latest Research Report on South Plains Financial

Institutional Investors Weigh In On South Plains Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of South Plains Financial by 9.8% during the second quarter. BlackRock Inc. now owns 1,258,493 shares of the company’s stock worth $28,329,000 after acquiring an additional 111,833 shares in the last quarter. Vanguard Group Inc. increased its position in shares of South Plains Financial by 1.4% during the third quarter. Vanguard Group Inc. now owns 562,168 shares of the company’s stock worth $14,864,000 after acquiring an additional 7,563 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of South Plains Financial by 13.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 314,552 shares of the company’s stock worth $9,110,000 after acquiring an additional 37,593 shares in the last quarter. State Street Corp increased its position in shares of South Plains Financial by 12.3% during the second quarter. State Street Corp now owns 237,216 shares of the company’s stock worth $5,340,000 after acquiring an additional 25,902 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of South Plains Financial by 10.8% during the second quarter. Geode Capital Management LLC now owns 237,108 shares of the company’s stock worth $5,337,000 after acquiring an additional 23,195 shares in the last quarter. 31.13% of the stock is owned by institutional investors.

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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