South Plains Financial Stock Price, News & Analysis

South Plains Financial, Inc. (NASDAQ:SPFI) will release its first-quarter 2021 financial results after market close on April 27, 2021. A conference call is scheduled for 5:00 p.m. Eastern Time on the same day to discuss these results. Investors can access the call by dialing 1-877-407-9716, and a live audio webcast will be available on the company’s website. A replay will be accessible shortly after the call and available until May 11, 2021. South Plains is the parent company of City Bank, serving a diverse market across Texas and New Mexico.

South Plains Financial, Inc. (NASDAQ: SPFI) reported a net income of $15.9 million for Q4 2020, a decrease from $16.7 million in Q3 2020 but up from $10.1 million in Q4 2019. Diluted EPS for the quarter was $0.87, down from $0.92 in Q3 2020. For the full year, net income was $45.4 million compared to $29.2 million in 2019. Total assets grew to $3.6 billion. The efficiency ratio improved to 63.0% from 75.3% in 2019. The loan modifications decreased from 5.4% to 2.9% of the total portfolio, indicating better asset quality amidst the pandemic.

South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.05 per share, payable on February 16, 2021, to shareholders of record by February 1, 2021. The dividend amount and future payments are subject to the discretion of the Board of Directors. South Plains, the parent company of City Bank, operates in West Texas and offers a variety of financial services including commercial and retail banking, insurance, and mortgage services.

South Plains Financial, Inc. (NASDAQ:SPFI) has announced the release of its fourth quarter and full year 2020 financial results on January 27, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can participate by dialing in or through a live webcast on the company’s website. A replay will be available shortly after the call concludes. South Plains operates City Bank, a significant player in West Texas banking, offering a broad range of financial services in various markets across Texas and New Mexico.

South Plains Financial, Inc. (NASDAQ:SPFI) has resumed its share repurchase program, initially authorized in March 2020, allowing for the buyback of up to $10 million in common stock. Following a temporary suspension due to the COVID-19 pandemic, the company has repurchased 4,700 shares for approximately $61,000 to date. The repurchase program's expiration has been extended to November 5, 2021. The company's repurchases will depend on various market and corporate factors, with no obligation for specific amounts or shares.

South Plains Financial (NASDAQ:SPFI) reported a strong performance in Q3 2020, achieving net income of $16.7 million, a significant increase from $5.6 million in Q2 2020 and $8.3 million in Q3 2019. Diluted EPS rose to $0.92 from $0.31 (Q2 2020) and $0.45 (Q3 2019). Noninterest income surged to $31.7 million, with notable contributions from mortgage banking. The average cost of deposits declined to 34 basis points. However, the provision for loan losses was $6.1 million, reflecting ongoing economic uncertainties related to COVID-19.

On October 22, 2020, South Plains Financial (NASDAQ:SPFI) announced a quarterly cash dividend of $0.05 per share, marking an increase of $0.02 from the previous dividend. This dividend will be payable on November 16, 2020 to shareholders of record as of November 2, 2020. The future dividends will be subject to the discretion of the Board of Directors. South Plains is the parent company of City Bank, providing a variety of commercial and consumer financial services across multiple Texas markets.

South Plains Financial, Inc. (NASDAQ:SPFI) announced that its third quarter 2020 financial results will be released after market close on October 27, 2020. A conference call to discuss these results will occur at 5:00 p.m. Eastern Time on the same day. Investors can join by dialing 1-877-407-9716, with international calls directed to 1-201-493-6779. The call will also be available via a live audio webcast on the Company’s website, with a replay accessible shortly after the call until November 10, 2020.