South Plains Financial Stock Price, News & Analysis

South Plains Financial, Inc. (NASDAQ:SPFI) announced the release of its second quarter 2022 financial results on July 22, 2022, before market open. The Company will host a conference call at 11:00 a.m. ET that day to discuss these results. Interested investors and analysts can participate by dialing in or accessing the live audio webcast via the Company’s website. A replay will be available shortly after the call until August 5, 2022. South Plains operates as a major banking entity in Texas and provides diverse financial services.

South Plains Financial (NASDAQ:SPFI) announced a new stock repurchase program for up to $15 million of its common stock, set to begin after the expiration of the current repurchase program. The existing program has approximately $1.6 million remaining. The new program will conclude on May 21, 2023, unless terminated or extended by the board. Repurchases will be made through open market purchases or private transactions, considering stock performance and market conditions. This initiative aims to enhance shareholder value.

South Plains Financial (NASDAQ:SPFI) reported a net income of $14.3 million for Q1 2022, slightly down from $14.6 million in Q4 2021 and $15.2 million in Q1 2021. The diluted earnings per share was $0.78, compared to $0.79 in the previous quarter. The company experienced growth in loans of $16.1 million, or 2.6% annualized. While deposits rose by $109 million, the net interest margin decreased to 3.33%. A provision for loan losses of $2.1 million was recorded, reflecting improved credit metrics. The outlook remains positive for mid to high single-digit loan growth in 2022.

South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly cash dividend of $0.11 per share on April 21, 2022. The dividend will be payable on May 16, 2022 to shareholders of record as of the close of business on May 2, 2022. This declaration underscores the company's commitment to returning value to its shareholders and demonstrates its ongoing financial stability.

South Plains Financial, Inc. (NASDAQ:SPFI) announced the release of its first quarter 2022 financial results on April 26, 2022, after market close. A conference call is scheduled for the same day at 5:00 p.m. Eastern Time to discuss the results. Investors can participate by calling 1-877-407-9716 or via a live audio webcast available on the company's website. A replay of the call will be accessible shortly after its conclusion and available until May 10, 2022.

South Plains Financial (NASDAQ:SPFI) reported Q4 2021 net income of $14.6 million, a decline from $15.2 million in Q3 2021 and $15.9 million in Q4 2020. Diluted EPS was $0.79, down from $0.82 and $0.87 in the previous quarters. Full-year net income reached $58.6 million, up from $45.4 million in 2020, with diluted EPS at $3.17, a significant increase. Total assets rose to $3.9 billion. The efficiency ratio worsened to 67.1% from 63.0% in 2020. Despite these challenges, the company achieved 9.7% organic loan growth in 2021, exceeding its mid-single-digit growth target.

South Plains Financial (NASDAQ:SPFI) announced a quarterly cash dividend of $0.11 per share, reflecting an increase of $0.02 over the previous quarter. The dividend is payable on February 14, 2022, to shareholders on record as of January 31, 2022. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a multitude of commercial and consumer banking services across Texas and parts of New Mexico. This dividend increase signals confidence in the company's financial health and commitment to returning value to shareholders.

South Plains Financial, Inc. (NASDAQ:SPFI) will announce its fourth quarter and full year 2021 financial results on January 27, 2022, after market close. Following the announcement, the Company will host a conference call and webcast at 5:00 PM ET to discuss the results. Interested investors can dial in or access the webcast via the Company’s website. A replay of the call will be available shortly after its conclusion and accessible until February 10, 2022. South Plains is the parent company of City Bank, offering a wide range of financial services across Texas and New Mexico.

South Plains Financial (NASDAQ:SPFI) announced a new stock repurchase program to buy back up to $10 million of its common stock, effective from November 6, 2021 to November 6, 2022. This new plan follows the expiration of the current repurchase program, and any remaining shares from the expiring plan will not transfer to the new one. The initiative aims to enhance shareholder value and reflects the company's confidence in its financial position.