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, Community Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits. The company also provides commercial real estate loans; general and specialized commercial loans, including agricultural production and real estate, energy, finance, investment, and insurance loans, as well as loans to goods, services, restaurant and retail, construction, and other industries; residential construction loans; and 1-4 family residential loans, auto loans, and other loans for recreational vehicles or other purposes. In addition, it offers crop insurance products; trust products and services; investment services; mortgage banking services; online and mobile banking services; and debit and credit cards. The company operates 25 full-service banking locations; and 13 loan production offices located throughout Texas and Eastern New Mexico. South Plains Financial, Inc. was founded in 1941 and is headquartered in Lubbock, Texas.
IPO Year: 2019
Exchange: NASDAQ
Website: spfi.bank
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/25/2024 | $36.00 → $41.00 | Outperform | Hovde Group |
| 7/19/2024 | $32.00 → $36.00 | Outperform | Hovde Group |
| 4/26/2024 | $34.00 → $32.00 | Outperform | Hovde Group |
| 7/14/2023 | $28.00 | Outperform | Hovde Group |
| 3/17/2023 | $26.00 | Outperform | Raymond James |
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LUBBOCK, Texas, Oct. 23, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Net income for the third quarter of 2024 was $11.2 million, compared to $11.1 million for the second quarter of 2024 and $13.5 million for the third quarter of 2023.Diluted earnings per share for the third quarter of 2024 was $0.66, compared to $0.66 for the second quarter of 2024 and $0.78 for the third quarter of 2023.Average cost of deposits for the third quarter of 2024 was 247 basis points,
LUBBOCK, Texas, Oct. 17, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock, a 7% increase from the most recent quarterly cash dividend declared in July 2024. The dividend is payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additi
LUBBOCK, Texas, Oct. 09, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its third quarter 2024 financial results will be released after market close on Wednesday, October 23, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's web
LUBBOCK, Texas, July 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of common stock. The dividend is payable on August 12, 2024 to shareholders of record as of the close of business on July 29, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and
LUBBOCK, Texas, July 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights Net income for the second quarter of 2024 was $11.1 million, compared to $10.9 million for the first quarter of 2024 and $29.7 million for the second quarter of 2023. The decrease in net income for the second quarter of 2024 as compared to the second quarter of 2023 was primarily due to the sale of Windmark Insurance Agency, Inc. ("Windmark") in the second quarter of 2023
LUBBOCK, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its second quarter 2024 financial results will be released after market close on Thursday, July 18, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's websit
LUBBOCK, Texas, April 25, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended March 31, 2024. First Quarter 2024 Highlights Net income for the first quarter of 2024 was $10.9 million, compared to $10.3 million for the fourth quarter of 2023 and $9.2 million for the first quarter of 2023.Diluted earnings per share for the first quarter of 2024 was $0.64, compared to $0.61 for the fourth quarter of 2023 and $0.53 for the first quarter of 2023.Average cost of deposits for the first quarter of 2024 was 241 basis points, com
LUBBOCK, Texas, April 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of common stock, an 8% increase from the most recent quarterly cash dividend declared in January 2024. The dividend is payable on May 13, 2024 to shareholders of record as of the close of business on April 29, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has addition
LUBBOCK, Texas, April 11, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its first quarter 2024 financial results will be released after market close on Thursday, April 25, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's websi
LUBBOCK, Texas, Feb. 26, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), today announced that the board of directors of the Company (the "Board") approved a stock repurchase program for up to $10.0 million of the outstanding shares of the Company's common stock (the "Stock Repurchase Program"). The Stock Repurchase Program will conclude on February 21, 2025, subject to the earlier termination or extension of the Stock Repurchase Program by the Board or the $10.0 million designated for the Stock Repurchase Program are depleted. Curtis Griffith, South Plains' Chairman and Chief Executive Officer, commented, "I am very pleased with the m
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Hovde Group reiterated coverage of South Plains Financial with a rating of Outperform and set a new price target of $41.00 from $36.00 previously
Hovde Group reiterated coverage of South Plains Financial with a rating of Outperform and set a new price target of $36.00 from $32.00 previously
Hovde Group reiterated coverage of South Plains Financial with a rating of Outperform and set a new price target of $32.00 from $34.00 previously
Hovde Group initiated coverage of South Plains Financial with a rating of Outperform and set a new price target of $28.00
Raymond James initiated coverage of South Plains Financial with a rating of Outperform and set a new price target of $26.00
LUBBOCK, Texas, Oct. 23, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended September 30, 2024. Third Quarter 2024 Highlights Net income for the third quarter of 2024 was $11.2 million, compared to $11.1 million for the second quarter of 2024 and $13.5 million for the third quarter of 2023.Diluted earnings per share for the third quarter of 2024 was $0.66, compared to $0.66 for the second quarter of 2024 and $0.78 for the third quarter of 2023.Average cost of deposits for the third quarter of 2024 was 247 basis points,
LUBBOCK, Texas, Oct. 17, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock, a 7% increase from the most recent quarterly cash dividend declared in July 2024. The dividend is payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additi
LUBBOCK, Texas, Oct. 09, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its third quarter 2024 financial results will be released after market close on Wednesday, October 23, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's web
LUBBOCK, Texas, July 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of common stock. The dividend is payable on August 12, 2024 to shareholders of record as of the close of business on July 29, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and
LUBBOCK, Texas, July 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended June 30, 2024. Second Quarter 2024 Highlights Net income for the second quarter of 2024 was $11.1 million, compared to $10.9 million for the first quarter of 2024 and $29.7 million for the second quarter of 2023. The decrease in net income for the second quarter of 2024 as compared to the second quarter of 2023 was primarily due to the sale of Windmark Insurance Agency, Inc. ("Windmark") in the second quarter of 2023
LUBBOCK, Texas, July 09, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its second quarter 2024 financial results will be released after market close on Thursday, July 18, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's websit
LUBBOCK, Texas, April 25, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended March 31, 2024. First Quarter 2024 Highlights Net income for the first quarter of 2024 was $10.9 million, compared to $10.3 million for the fourth quarter of 2023 and $9.2 million for the first quarter of 2023.Diluted earnings per share for the first quarter of 2024 was $0.64, compared to $0.61 for the fourth quarter of 2023 and $0.53 for the first quarter of 2023.Average cost of deposits for the first quarter of 2024 was 241 basis points, com
LUBBOCK, Texas, April 18, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of common stock, an 8% increase from the most recent quarterly cash dividend declared in January 2024. The dividend is payable on May 13, 2024 to shareholders of record as of the close of business on April 29, 2024. About South Plains Financial, Inc. South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has addition
LUBBOCK, Texas, April 11, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank, today announced that its first quarter 2024 financial results will be released after market close on Thursday, April 25, 2024. The Company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available on the Company's websi
LUBBOCK, Texas, Jan. 26, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter and year ended December 31, 2023. Fourth Quarter 2023 Highlights Net income for the fourth quarter of 2023 was $10.3 million, compared to $13.5 million for the third quarter of 2023 and $12.6 million for the fourth quarter of 2022.Diluted earnings per share for the fourth quarter of 2023 was $0.61, compared to $0.78 for the third quarter of 2023 and $0.71 for the fourth quarter of 2022.Average cost of deposits for the fourth quarter of 2023 increased
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Piper Sandler analyst Stephen Scouten maintains South Plains Financial (NASDAQ:SPFI) with a Overweight and raises the price target from $32 to $36.
South Plains Financial (NASDAQ:SPFI) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.58 by 13.79 percent. The company reported quarterly sales of $48.597 million which beat the analyst consensus estimate of $46.527 million by 4.45 percent. This is a 40.71 percent decrease over sales of $81.963 million the same period last year.
South Plains Financial (NASDAQ:SPFI) reported quarterly earnings of $0.64 per share which beat the analyst consensus estimate of $0.57 by 12.28 percent. This is a 20.75 percent increase over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $46.777 million which beat the analyst consensus estimate of $45.472 million by 2.87 percent. This is a 3.94 percent increase over sales of $45.006 million the same period last year.
South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains"), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of common stock, an 8% increase from the most recent quarterly cash dividend declared in January 2024. The dividend is payable on May 13, 2024 to shareholders of record as of the close of business on April 29, 2024.
By the end of today, February 12, 2024, South Plains Financial (NASDAQ:SPFI) is set to deliver a dividend payout of $0.13 per share, equating to an annualized dividend yield of 1.90%. Shareholders who owned the stock prior to the ex-dividend date on January 26, 2024 will receive this payout. South Plains Financial Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align: left;
Raymond James analyst Michael Rose maintains South Plains Financial (NASDAQ:SPFI) with a Outperform and raises the price target from $28 to $31.
South Plains Financial (NASDAQ:SPFI) reported quarterly earnings of $0.61 per share which missed the analyst consensus estimate of $0.64 by 4.69 percent. This is a 14.08 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $44.31 million which missed the analyst consensus estimate of $47.01 million by 5.74 percent. This is a 9.57 percent decrease over sales of $49.00 million the same period last year.
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South Plains Financial (NASDAQ:SPFI) is set to give its latest quarterly earnings report on Friday, 2024-01-26. Here's what investors need to know before the announcement. Analysts estimate that South Plains Financial will report an earnings per share (EPS) of $0.64. South Plains Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.14, which was followed by a