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 South Plains Financial stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $35.36, for a total transaction of $758,224.48. Following the completion of the sale, the chief executive officer now owns 807,240 shares in the company, valued at approximately $28,544,006.40. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

South Plains Financial Stock Performance

SPFI stock opened at $34.72 on Friday. The company has a market capitalization of $569.06 million, a P/E ratio of 11.89 and a beta of 0.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $35.40 and a 200 day simple moving average of $35.04. South Plains Financial, Inc. has a fifty-two week low of $24.05 and a fifty-two week high of $40.90.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings results on Friday, January 24th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $0.61 earnings per share. Sell-side analysts predict that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, February 3rd. South Plains Financial’s dividend payout ratio (DPR) is presently 20.55%.

Analyst Ratings Changes

Several equities research analysts have commented on SPFI shares. Hovde Group raised their price target on shares of South Plains Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $45.00 target price (down from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.

Institutional Trading of South Plains Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 valued at $694,000 after buying an additional 2,127 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in South Plains Financial by 42.3% in the 4th quarter. Two Sigma Advisers LP now owns 42,700 shares of the company’s stock valued at $1,484,000 after acquiring an additional 12,700 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in South Plains Financial by 148.8% in the 4th quarter. Quantinno Capital Management LP now owns 44,741 shares of the company’s stock valued at $1,555,000 after acquiring an additional 26,757 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of South Plains Financial by 51.0% during the 4th quarter. Nuveen Asset Management LLC now owns 65,204 shares of the company’s stock valued at $2,266,000 after purchasing an additional 22,010 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of South Plains Financial by 51.3% in the 4th 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 last quarter. Institutional investors own 54.95% of the company’s stock.

About South Plains Financial

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.