South Plains Financial (NASDAQ:SPFI – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01, Yahoo Finance reports. South Plains Financial had a return on equity of 11.42% and a net margin of 16.53%. The company had revenue of $72.28 million for the quarter, compared to analyst estimates of $48.90 million. During the same period last year, the company earned $0.78 earnings per share.
South Plains Financial Stock Down 0.9 %
Shares of South Plains Financial stock traded down $0.32 during trading on Friday, hitting $33.48. 24,794 shares of the stock traded hands, compared to its average volume of 35,585. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market cap of $549.71 million, a P/E ratio of 8.95 and a beta of 0.58. The company has a fifty day moving average price of $33.56 and a two-hundred day moving average price of $29.87. South Plains Financial has a twelve month low of $24.05 and a twelve month high of $35.61.
South Plains Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, October 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.79%. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, October 28th. South Plains Financial’s dividend payout ratio (DPR) is currently 16.04%.
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Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on South Plains Financial from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Hovde Group boosted their price target on shares of South Plains Financial from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Friday.
View Our Latest Stock 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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