South Plains Financial (SPFI) Scheduled to Post Earnings on Thursday

South Plains Financial (NASDAQ:SPFI) is scheduled to be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.61 earnings per share (EPS) 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 11.06%. The business had revenue of $66.38 million during the quarter, compared to analyst estimates of $47.25 million. During the same quarter last year, the company posted $0.71 earnings per share. On average, analysts expect South Plains Financial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

South Plains Financial Trading Up 0.4 %

SPFI opened at $25.31 on Thursday. South Plains Financial has a twelve month low of $18.75 and a twelve month high of $30.22. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $25.85 and a 200-day moving average of $26.87. The stock has a market cap of $415.84 million, a PE ratio of 6.97 and a beta of 0.56.

Insider Buying and Selling

In other news, CEO Curtis C. Griffith sold 100,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.75, for a total value of $2,475,000.00. Following the completion of the sale, the chief executive officer now owns 1,103,797 shares of the company’s stock, valued at approximately $27,318,975.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other South Plains Financial news, Director Noe G. Valles purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average cost of $27.00 per share, for a total transaction of $810,000.00. Following the purchase, the director now directly owns 195,512 shares in the company, valued at $5,278,824. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Curtis C. Griffith sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.75, for a total transaction of $2,475,000.00. Following the sale, the chief executive officer now owns 1,103,797 shares of the company’s stock, valued at $27,318,975.75. The disclosure for this sale can be found here. 26.75% of the stock is currently owned by insiders.

Institutional Trading of South Plains Financial

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in shares of South Plains Financial by 193.5% during the third quarter. Tower Research Capital LLC TRC now owns 1,259 shares of the company’s stock valued at $33,000 after buying an additional 830 shares during the last quarter. FMR LLC increased its position in South Plains Financial by 60.7% in the first quarter. FMR LLC now owns 1,530 shares of the company’s stock worth $33,000 after purchasing an additional 578 shares during the last quarter. Lazard Asset Management LLC bought a new stake in South Plains Financial in the third quarter worth $56,000. Citigroup Inc. boosted its stake in shares of South Plains Financial by 676.4% during the first quarter. Citigroup Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after purchasing an additional 2,354 shares during the period. Finally, UBS Group AG purchased a new stake in shares of South Plains Financial during the fourth quarter valued at $101,000. Hedge funds and other institutional investors own 54.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James lifted their price objective 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.

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.