South Plains Financial (NASDAQ:SPFI – Get Free Report) reported its quarterly earnings on July 18th. The company earned $0.66 per share (EPS), surpassing estimates of $0.56. They had a net margin of 16.53% and a return on equity of 11.42%. Revenue for the quarter was $71.92 million, exceeding forecast of $46.50 million. Last year, they earned $0.55 EPS. Analysts predict $3 EPS for both this and next fiscal year.
Price Performance
Shares opened at $34.52 on Wednesday. The stock’s 12-month low was $24.05, and the high was $35.10. The 50-day moving average is $33.04, and the 200-day is $29.43. The market capitalization is $566.78 million with a price-to-earnings ratio of 9.23.
Dividend Announcement
The company declared a quarterly dividend paid on August 12th. Stockholders on record as of July 29th received $0.14 per share. This amounts to a $0.56 annual dividend, yielding 1.62%. The dividend payout ratio is 14.97%.
Insider Trading
CEO Curtis C. Griffith sold 1,599 shares on August 2nd at $31.00, totaling $49,569. Post-sale, he holds 996,898 shares valued at about $30.9 million. Director Noe G. Valles purchased 50,000 shares on August 15th at $30.00 each for $1.5 million, increasing his stake to 336,437 shares valued at $10.09 million. Insiders own 25.39% of the stock.
Analyst Forecasts
Brokerages have set new price targets: Hovde Group raised it from $32 to $36, while Piper Sandler also increased theirs to $36.
Company Profile
South Plains Financial, Inc is a bank holding company for City Bank, providing financial services to small and medium-sized businesses and individuals.
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