South Plains Financial, Inc. (SPFI) To Go Ex-Dividend on April 26th

South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Monday, April 29th will be given a dividend of 0.14 per share on Monday, May 13th. This represents a $0.56 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, April 26th.

South Plains Financial has increased its dividend payment by an average of 54.9% annually over the last three years and has raised its dividend every year for the last 5 years. South Plains Financial has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect South Plains Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 22.0%.

South Plains Financial Trading Up 1.1 %

Shares of SPFI stock opened at $26.40 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The firm has a market cap of $433.75 million, a P/E ratio of 7.27 and a beta of 0.56. The company has a 50 day moving average of $25.85 and a 200-day moving average of $26.86. South Plains Financial has a 12-month low of $18.75 and a 12-month high of $30.22.

South Plains Financial (NASDAQ:SPFI) last released its earnings results on Friday, January 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). South Plains Financial had a return on equity of 11.06% and a net margin of 21.54%. The firm had revenue of $66.38 million during the quarter, compared to analysts’ expectations of $47.25 million. During the same period in the prior year, the business earned $0.71 earnings per share. Sell-side analysts anticipate that South Plains Financial will post 2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James upped their price objective on shares of South Plains Financial from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

Insider Transactions at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 100,000 shares of South Plains Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.75, for a total transaction of $2,475,000.00. Following the completion of the transaction, the chief executive officer now owns 1,103,797 shares of the company’s stock, valued at approximately $27,318,975.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other South Plains Financial news, CEO Curtis C. Griffith sold 100,000 shares of South Plains Financial stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.75, for a total transaction of $2,475,000.00. Following the transaction, the chief executive officer now directly owns 1,103,797 shares of the company’s stock, valued at $27,318,975.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Curtis C. Griffith sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total value of $1,250,000.00. Following the completion of the transaction, the chief executive officer now owns 1,253,797 shares of the company’s stock, valued at $31,344,925. The disclosure for this sale can be found here. Corporate insiders own 25.39% of the company’s stock.

South Plains Financial Company Profile

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.