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Curtis C. Griffith, Chairman and CEO of South Plains Financial, Inc. (NASDAQ:SPFI), recently sold 21,443 shares of the company’s common stock. The transaction, dated February 18, 2025, was executed at an average price of $35.36 per share, totaling approximately $758,224. The $572 million market cap company, which has raised its dividend for six consecutive years and maintains a "GOOD" financial health score according to InvestingPro, currently trades near its Fair Value.
Following this sale, Griffith retains direct ownership of 807,240 shares. Additionally, through various trusts and indirect holdings, Griffith maintains significant indirect ownership, including 43,560 shares held by his spouse and multiple family trusts, each holding between 64,000 and 87,000 shares. These trusts include the Curtis C. Griffith 2021 Irrevocable Trust, among others, with Griffith or his spouse serving as trustees. With four analysts recently revising earnings estimates upward and the stock showing a 34% return over the past year, investors can access more detailed insights and analysis through InvestingPro’s comprehensive research reports.
In other recent news, South Plains Financial Inc . reported strong financial results for the third quarter of 2024, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.96, significantly higher than the forecasted $0.68. Additionally, revenue reached $51.87 million, exceeding the anticipated $49.41 million. The company’s net interest income rose to $37.3 million, up from $35.9 million in the previous quarter, and the net interest margin increased slightly to 3.65%. Analysts noted that South Plains Financial’s performance reflects robust management strategies, with a focus on maintaining credit discipline and building liquidity. The company anticipates flat loan growth in the fourth quarter but expects acceleration in 2025 as interest rates decline. Furthermore, South Plains Financial has announced a 7% increase in its quarterly dividend, marking the 22nd consecutive quarterly dividend. The company remains optimistic about economic conditions in Texas and New Mexico, with a strong new business pipeline expected to drive future growth.
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