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 the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.14, for a total transaction of $1,231,690.04. Following the completion of the sale, the director directly owned 1,384,969 shares in the company, valued at approximately $62,517,500.66. The trade was a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

South Plains Financial Trading Down 0.4%

Shares of South Plains Financial stock opened at $45.31 on Thursday. South Plains Financial, Inc. has a 12-month low of $35.34 and a 12-month high of $46.94. The stock has a market capitalization of $867.51 million, a P/E ratio of 12.35 and a beta of 0.46. The company has a 50-day simple moving average of $42.69 and a 200 day simple moving average of $42.08. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.12.

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

South Plains Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, July 27th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from South Plains Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, July 27th. South Plains Financial’s dividend payout ratio is presently 19.62%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $50.00 price target (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. Wall Street Zen raised South Plains Financial from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings raised South Plains Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of South Plains Financial in a report on Monday, July 20th. Finally, Benchmark restated a “buy” rating on shares of South Plains Financial in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.60.

Institutional Trading of South Plains Financial

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in South Plains Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock worth $234,000 after purchasing an additional 312 shares during the last quarter. Empowered Funds LLC boosted its position in South Plains Financial by 0.4% in the 1st quarter. Empowered Funds LLC now owns 89,245 shares of the company’s stock valued at $2,956,000 after buying an additional 398 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of South Plains Financial in the 1st quarter valued at $315,000. Rhumbline Advisers increased its stake in shares of South Plains Financial by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 20,622 shares of the company’s stock valued at $743,000 after buying an additional 2,532 shares during the period. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of South Plains Financial during the second quarter worth $106,000. 54.95% of the stock is owned by institutional investors.

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.