Richard Campbell Sells 15,583 Shares of South Plains Financial (NASDAQ:SPFI) Stock

South Plains Financial, Inc. (NASDAQ:SPFI) Director Richard Campbell sold 15,583 shares of South Plains Financial stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $39.62, for a total value of $617,398.46. Following the transaction, the director owned 1,529,386 shares of the company’s stock, valued at $60,594,273.32. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

South Plains Financial Trading Down 2.6%

Shares of South Plains Financial stock opened at $39.29 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.93. The business has a fifty day simple moving average of $39.20 and a two-hundred day simple moving average of $35.98. South Plains Financial, Inc. has a 1 year low of $30.01 and a 1 year high of $42.38. The company has a market capitalization of $638.07 million, a price-to-earnings ratio of 12.28 and a beta of 0.72.

South Plains Financial (NASDAQ:SPFI) last released its quarterly earnings data on Wednesday, July 16th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $54.67 million for the quarter, compared to the consensus estimate of $52.24 million. South Plains Financial had a net margin of 18.59% and a return on equity of 12.27%. During the same period in the previous year, the company earned $0.66 earnings per share. Research analysts forecast that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were issued a dividend of $0.16 per share. This is a boost from South Plains Financial’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, July 28th. South Plains Financial’s dividend payout ratio is presently 20.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SPFI. Raymond James Financial Inc. acquired a new position in South Plains Financial in the 2nd quarter worth about $32,000. CWM LLC boosted its stake in shares of South Plains Financial by 44.8% during the second quarter. CWM LLC now owns 1,678 shares of the company’s stock valued at $60,000 after purchasing an additional 519 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of South Plains Financial by 11.0% during the second quarter. BNP Paribas Financial Markets now owns 2,594 shares of the company’s stock worth $93,000 after purchasing an additional 258 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of South Plains Financial in the second quarter valued at approximately $106,000. Finally, Tower Research Capital LLC TRC raised its holdings in South Plains Financial by 595.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,353 shares of the company’s stock valued at $121,000 after buying an additional 2,871 shares during the last quarter. 54.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reiterated an “outperform” rating and set a $42.00 target price (up previously from $38.00) on shares of South Plains Financial in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $44.67.

About South Plains Financial

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.