South Plains Financial (NASDAQ:SPFI) Reaches New 1-Year High on Better-Than-Expected Earnings

Shares of South Plains Financial, Inc. (NASDAQ:SPFI) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $46.94 and last traded at $45.15, with a volume of 34017 shares. The stock had previously closed at $44.25.

The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $64.49 million for the quarter, compared to analyst estimates of $63.34 million. South Plains Financial had a return on equity of 12.58% and a net margin of 20.22%.

South Plains Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, July 27th will be paid a $0.18 dividend. This is an increase from South Plains Financial’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, July 27th. South Plains Financial’s payout ratio is presently 19.62%.

Trending Headlines about South Plains Financial

Here are the key news stories impacting South Plains Financial this week:

• Positive Sentiment: SPFI reported Q2 2026 diluted EPS of $0.96, topping analyst estimates, and revenue of $64.49 million, also ahead of expectations. Article Title
• Positive Sentiment: Net income rose to $19.0 million from $14.5 million in the prior quarter, helped by higher net interest income and the addition of Bank of Houston assets and deposits. Article Title
• Positive Sentiment: The board approved a 6% increase in the quarterly cash dividend to $0.18 per share, signaling confidence in earnings and capital strength. Article Title
• Positive Sentiment: Deposits climbed to $4.64 billion and loans held for investment rose to $3.77 billion, reflecting both acquisition-driven growth and some organic expansion. Article Title
• Neutral Sentiment: Management said the Bank of Houston integration is going well, but expenses also increased due to acquisition-related costs and higher compensation, which may temper margin expansion. Article Title

Analyst Ratings Changes

A number of brokerages have recently weighed in on SPFI. Zacks Research lowered shares of South Plains Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, March 27th. Piper Sandler dropped their target price on South Plains Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Wall Street Zen upgraded South Plains Financial from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings raised South Plains Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Finally, Benchmark initiated coverage on South Plains Financial in a research report on Wednesday, June 24th. They set a “buy” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $47.60.

Insider Buying and Selling at South Plains Financial

In other news, Director James D. Stein sold 1,560 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $40.07, for a total value of $62,509.20. Following the completion of the transaction, the director owned 342,872 shares in the company, valued at approximately $13,738,881.04. This represents a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 30,000 shares of company stock worth $1,204,340. 24.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On South Plains Financial

A number of institutional investors and hedge funds have recently bought and sold shares of SPFI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in South Plains Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock valued at $234,000 after acquiring an additional 312 shares in the last quarter. Empowered Funds LLC increased its position in shares of South Plains Financial by 0.4% during the first quarter. Empowered Funds LLC now owns 89,245 shares of the company’s stock worth $2,956,000 after purchasing an additional 398 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of South Plains Financial in the 1st quarter valued at about $315,000. Rhumbline Advisers lifted its holdings in shares of South Plains Financial by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 20,622 shares of the company’s stock valued at $743,000 after purchasing an additional 2,532 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of South Plains Financial in the 2nd quarter valued at about $106,000. 54.95% of the stock is owned by hedge funds and other institutional investors.

South Plains Financial Trading Up 3.9%

The business has a 50-day moving average of $41.46 and a 200-day moving average of $41.58. The stock has a market capitalization of $879.95 million, a price-to-earnings ratio of 12.52 and a beta of 0.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93.

About South Plains Financial

South Plains Financial, Inc is the bank holding company for South Plains Bank, a community-oriented financial institution headquartered in Lubbock, Texas. The company operates as a full-service commercial bank, providing a broad spectrum of banking solutions to individuals, small businesses and agricultural clients. Its principal subsidiary, South Plains Bank, holds state and national banking charters and is subject to regulatory oversight by the Federal Reserve and various state banking authorities.

The company’s product offerings include traditional deposit accounts such as checking, savings and money market accounts, as well as time deposits.