South Plains Financial (NASDAQ:SPFI – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01, Yahoo Finance reports. South Plains Financial had a net margin of 16.53% and a return on equity of 11.42%. The company had revenue of $72.28 million for the quarter, compared to analysts’ expectations of $48.90 million. During the same period last year, the firm posted $0.78 earnings per share.
South Plains Financial Stock Down 0.9 %
SPFI stock traded down $0.32 during trading hours on Friday, reaching $33.48. 24,794 shares of the stock were exchanged, compared to its average volume of 35,585. The company has a market cap of $549.71 million, a price-to-earnings ratio of 9.08 and a beta of 0.58. The firm’s 50-day moving average is $33.54 and its 200-day moving average is $29.81. South Plains Financial has a 12 month low of $24.05 and a 12 month high of $35.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.91.
South Plains Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, October 28th will be given a $0.15 dividend. This is a boost from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Monday, October 28th. South Plains Financial’s payout ratio is currently 16.04%.
Insider Transactions at South Plains Financial
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on SPFI shares. Hovde Group lifted their target price on South Plains Financial from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler lifted their price objective on South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd.
View Our Latest Research Report on SPFI
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.
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