South Plains Financial declares a $0.15 quarterly dividend, payable May 12, 2025, to shareholders of record by April 28, 2025.
Quiver AI Summary
South Plains Financial, Inc. announced a quarterly cash dividend of $0.15 per share of common stock, which will be paid on May 12, 2025, to shareholders recorded by April 28, 2025. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a range of financial services to businesses and individuals across multiple markets, including Texas and New Mexico. For more information, visit their website or contact their Chief Risk Officer, Mikella Newsom.
Potential Positives
- South Plains Financial, Inc. has declared a quarterly cash dividend of $0.15 per share, indicating financial stability and a commitment to returning value to shareholders.
- The dividend announcement enhances shareholder confidence and may attract new investors looking for dividend-paying stocks.
- The payment schedule includes a clear timeline, with the dividend payable on May 12, 2025, a sign of operational transparency.
- Being one of the largest independent banks in West Texas, South Plains Financial's strong regional presence is reinforced by its diversified banking operations across multiple markets.
Potential Negatives
- While the declaration of a dividend indicates a return of capital to shareholders, the relatively low amount of $0.15 per share may not meet investor expectations or reflect strong financial performance.
- The need to declare a dividend may suggest that the company is focusing on short-term shareholder returns rather than reinvesting profits for long-term growth, which could raise concerns about future business expansion and stability.
- The announcement does not provide any information regarding the company's financial performance or future outlook, which may raise concerns among investors about transparency and overall financial health.
FAQ
What is the quarterly cash dividend declared by South Plains Financial?
South Plains Financial has declared a quarterly cash dividend of $0.15 per share of common stock.
When will the dividend be paid to shareholders?
The dividend is payable on May 12, 2025, to shareholders of record as of April 28, 2025.
What is the parent company of City Bank?
The parent company of City Bank is South Plains Financial, Inc.
Where is South Plains Financial headquartered?
South Plains Financial is headquartered in Lubbock, Texas.
What services does South Plains Financial offer?
South Plains Financial provides commercial and consumer financial services, including banking, investment, trust, and mortgage services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPFI Insider Trading Activity
$SPFI insiders have traded $SPFI stock on the open market 8 times in the past 6 months. Of those trades, 2 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $SPFI stock by insiders over the last 6 months:
- CURTIS C GRIFFITH (Chairman and CEO) has made 0 purchases and 6 sales selling 210,000 shares for an estimated $7,103,653.
- NOE G VALLES has made 2 purchases buying 150,000 shares for an estimated $4,975,000 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SPFI Hedge Fund Activity
We have seen 45 institutional investors add shares of $SPFI stock to their portfolio, and 46 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO added 71,656 shares (+40.8%) to their portfolio in Q4 2024, for an estimated $2,490,046
- M3F, INC. removed 39,540 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,374,015
- AMERICAN CENTURY COMPANIES INC added 35,207 shares (+16.5%) to their portfolio in Q4 2024, for an estimated $1,223,443
- MILLENNIUM MANAGEMENT LLC added 31,983 shares (+51.3%) to their portfolio in Q4 2024, for an estimated $1,111,409
- BLACKROCK, INC. added 30,532 shares (+2.3%) to their portfolio in Q4 2024, for an estimated $1,060,987
- QUANTINNO CAPITAL MANAGEMENT LP added 26,757 shares (+148.8%) to their portfolio in Q4 2024, for an estimated $929,805
- NUVEEN ASSET MANAGEMENT, LLC added 22,010 shares (+51.0%) to their portfolio in Q4 2024, for an estimated $764,847
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LUBBOCK, Texas, April 17, 2025 (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. The dividend is payable on May 12, 2025 to shareholders of record as of the close of business on April 28, 2025.
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 College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.
| Contact: |
Mikella Newsom, Chief Risk Officer and Secretary
[email protected] (866) 771-3347 |
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Source: South Plains Financial, Inc.
