South Plains Financial, Inc. to Issue Quarterly Dividend of $0.17 (NASDAQ:SPFI)

South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly dividend on Thursday, April 16th. Investors of record on Monday, April 27th will be paid a dividend of 0.17 per share on Monday, May 11th. This represents a c) annualized dividend and a yield of 1.6%. 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%annually over the last three years and has raised its dividend every year for the last 5 years. South Plains Financial has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of South Plains Financial stock opened at $43.30 on Friday. The firm has a market capitalization of $707.61 million, a P/E ratio of 12.59 and a beta of 0.54. South Plains Financial has a 52 week low of $31.49 and a 52 week high of $44.58. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $42.06 and its two-hundred day moving average is $40.04.

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

South Plains Financial Company Profile

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.