Curtis C. Griffith Sells 5,196 Shares of South Plains Financial, Inc. (NASDAQ:SPFI) Stock

South Plains Financial, Inc. (NASDAQ:SPFI) CEO Curtis C. Griffith sold 5,196 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $35.60, for a total transaction of $184,977.60. Following the transaction, the chief executive officer now owns 828,683 shares in the company, valued at $29,501,114.80. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

South Plains Financial Stock Performance

NASDAQ:SPFI opened at $35.50 on Friday. The firm’s 50-day moving average is $35.68 and its 200-day moving average is $34.96. South Plains Financial, Inc. has a 52-week low of $24.05 and a 52-week high of $40.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $581.85 million, a price-to-earnings ratio of 12.16 and a beta of 0.62.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings data on Friday, January 24th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.61 EPS. Equities research analysts anticipate that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.69%. South Plains Financial’s payout ratio is 20.55%.

Institutional Trading of South Plains Financial

Several institutional investors have recently made changes to their positions in SPFI. JPMorgan Chase & Co. boosted its position in shares of South Plains Financial by 200.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 175,774 shares of the company’s stock valued at $5,962,000 after acquiring an additional 117,207 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of South Plains Financial during the 3rd quarter valued at about $2,882,000. American Century Companies Inc. boosted its position in shares of South Plains Financial by 16.5% during the 4th quarter. American Century Companies Inc. now owns 248,456 shares of the company’s stock valued at $8,634,000 after acquiring an additional 35,207 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of South Plains Financial by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 426,077 shares of the company’s stock valued at $14,806,000 after acquiring an additional 21,444 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of South Plains Financial by 77.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 47,659 shares of the company’s stock valued at $1,617,000 after acquiring an additional 20,756 shares in the last quarter. 54.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPFI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $45.00 target price (down previously from $46.00) on shares of South Plains Financial in a report on Monday, January 27th. Hovde Group lifted their target price on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, January 27th.

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.