South Plains Financial, Inc. (SPFI) To Go Ex-Dividend on April 27th

South Plains Financial, Inc. (NASDAQ:SPFI) declared a quarterly dividend on Thursday, April 16th. Stockholders of record on Monday, April 27th will be given a dividend of 0.17 per share on Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, April 27th.

South Plains Financial has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 5 years. South Plains Financial has a dividend payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect South Plains Financial to earn $3.28 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.7%.

South Plains Financial Stock Up 2.6%

SPFI stock opened at $44.42 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $40.08. The company has a market capitalization of $725.82 million, a P/E ratio of 12.91 and a beta of 0.54. South Plains Financial has a twelve month low of $31.49 and a twelve month high of $45.09.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.06. South Plains Financial had a net margin of 19.69% and a return on equity of 12.51%. The firm had revenue of $54.25 million for the quarter, compared to analysts’ expectations of $54.11 million. On average, equities research analysts predict that South Plains Financial will post 2.85 earnings per share for the current fiscal year.

South Plains Financial declared that its Board of Directors has authorized a stock buyback program on Monday, February 23rd that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About South Plains Financial

South Plains Financial, Inc is the bank holding company for South Plains Bank, a community-oriented financial institution headquartered in Lubbock, Texas. The company operates as a full-service commercial bank, providing a broad spectrum of banking solutions to individuals, small businesses and agricultural clients. Its principal subsidiary, South Plains Bank, holds state and national banking charters and is subject to regulatory oversight by the Federal Reserve and various state banking authorities.

The company’s product offerings include traditional deposit accounts such as checking, savings and money market accounts, as well as time deposits.