South Plains Financial (NASDAQ:SPFI) Director Richard Campbell Sells 27,286 Shares of Stock

South Plains Financial, Inc. (NASDAQ:SPFI) Director Richard Campbell sold 27,286 shares of South Plains Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.14, for a total value of $1,231,690.04. Following the sale, the director directly owned 1,384,969 shares of the company’s stock, valued at approximately $62,517,500.66. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

South Plains Financial Price Performance

Shares of South Plains Financial stock traded down $0.08 during trading on Wednesday, hitting $45.42. 45,186 shares of the stock traded hands, compared to its average volume of 117,236. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.12. The stock has a market cap of $869.79 million, a price-to-earnings ratio of 12.38 and a beta of 0.46. The firm’s fifty day moving average is $42.59 and its 200-day moving average is $42.05. South Plains Financial, Inc. has a 52 week low of $35.34 and a 52 week high of $46.94.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings data on Friday, July 17th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $63.34 million. South Plains Financial had a return on equity of 13.23% and a net margin of 20.79%. Research analysts expect that South Plains Financial, Inc. will post 3.77 EPS for the current fiscal year.

South Plains Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, July 27th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. This is a boost from South Plains Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, July 27th. South Plains Financial’s payout ratio is 19.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of South Plains Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of South Plains Financial in a report on Monday, July 20th. Wall Street Zen upgraded shares of South Plains Financial from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Benchmark reissued a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Finally, Piper Sandler cut their price target on shares of South Plains Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, South Plains Financial presently has an average rating of “Moderate Buy” and an average price target of $49.60.

Institutional Trading of South Plains Financial

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of South Plains Financial by 71.2% in the first quarter. Royal Bank of Canada now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Raymond James Financial Inc. bought a new stake in South Plains Financial during the 2nd quarter valued at $32,000. State of Alaska Department of Revenue boosted its position in South Plains Financial by 138.8% during the 4th quarter. State of Alaska Department of Revenue now owns 1,571 shares of the company’s stock valued at $60,000 after buying an additional 913 shares during the period. Quarry LP purchased a new stake in South Plains Financial during the 3rd quarter valued at $60,000. Finally, BNP Paribas Financial Markets boosted its position in South Plains Financial by 11.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,594 shares of the company’s stock valued at $93,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 54.95% of the company’s stock.

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.