South Plains Financial Inc

South Plains Financial Inc

SPFI · NASDAQ · Financial Services / Banks - Regional

42.65USD-0.15 (-0.35%)

Price History

Full chart

Market Stats

Previous Close42.80
Open42.98
Day Range42.26 – 42.98
52-Week Range34.92 – 46.75
Volume70.92K
Market Cap797.27M
P/E (TTM)11.50
Forward P/E0.00
EPS3.68
Dividend Yield1.67%
Beta0.46
50-Day Avg44.40
200-Day Avg42.22

About

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. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits. The company also provides traditional trust products and services; debit and credit cards; retirement services and products, including real estate administration, family trust administration, revocable and irrevocable trusts, charitable trusts for individuals and corporations, self-directed individual retirement accounts, simplified employee pensions plans, employee stock ownership plans, defined benefit plans, and profit-sharing plans. In addition, it offers investment services, such as self-directed IRAs, money market funds, mutual funds, annuities and tax-deferred annuities, stocks and bonds, investments for non-U.S. residents, treasury bills, treasury notes and bonds, and tax-exempt municipal bonds. Further, the company 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; and mortgage banking services. The company was founded in 1941 and is headquartered in Lubbock, Texas.

Company Details

  • SectorFinancial Services
  • IndustryBanks - Regional
  • CEOMr. Curtis C. Griffith
  • Employees545
  • Headquarters5219 City Bank Parkway, Lubbock, TX, United States, 79407, USA
  • Websitehttps://www.spfi.bank

Leadership

  • Mr. Curtis C. GriffithChairman & CEO · b. 1953
  • Mr. Cory T. NewsomExecutive VP, COO & Director · b. 1968
  • Mr. Steven B. Crockett CPACFO & Treasurer · b. 1972
  • Mr. Brent A. BatesSenior VP of City Bank & Chief Credit Officer of City Bank · b. 1975
  • Mr. Paul A. EhlersSenior VP of City Bank & COO of City Bank · b. 1971
  • Ms. Mikella D. NewsomChief Risk Officer & Secretary · b. 1974
  • Mr. Kelly L. DeterdingPresident of Windmark Insurance & Senior VP of Insurance Development of City Bank · b. 1959

Financials

Income Statement

Currency: USD2017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue149.53M167.47M186.23M235.58M227.51M231.94M212.03M283.10M296.89M
Growth (%)-+12.00%+11.20%+26.50%-3.43%+1.95%-8.58%+33.52%+4.87%
Cost of Revenue19.94M29.38M31.17M41.52M11.35M20.07M76.90M98.10M90.19M
Gross Profit129.59M138.09M155.06M194.06M216.16M211.86M212.03M185.00M206.69M
Gross Margin86.66%82.45%83.26%82.38%95.01%91.35%100.00%65.35%69.62%
Operating Expense105.85M112.70M118.36M137.46M143.03M138.71M132.62M121.70M132.62M
Operating Income23.74M25.39M36.70M56.60M73.12M73.15M79.42M63.29M74.07M
Operating Margin15.88%15.16%19.71%24.03%32.14%31.54%37.46%22.36%24.95%
EBITDA29.03M30.57M41.93M63.18M79.56M80.12M79.42M69.80M79.89M
EBITDA Margin19.41%18.26%22.51%26.82%34.97%34.54%37.46%24.66%26.91%
Net Income23.64M29.29M29.22M45.35M58.61M58.24M62.74M49.72M58.47M
Net Income Margin15.81%17.49%15.69%19.25%25.76%25.11%29.59%17.56%19.69%
R&D00-------
R&D as % of Total Revenue0.00%0.00%-------
Interest Expense15.98M22.48M28.37M15.95M13.27M22.69M72.29M93.80M85.00M
Interest Expense % of Total Revenue10.68%13.42%15.23%6.77%5.83%9.78%34.09%33.13%28.63%

Balance Sheet

Currency: USD2017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets2.57B2.71B3.24B3.60B3.90B3.94B4.20B4.23B4.48B
Total Liabilities2.42B2.56B2.93B3.23B122.17M3.59B3.80B3.79B3.99B
Total Equity158.21M154.58M306.18M370.05M3.78B357.01M407.11M438.95M493.84M
Cash294.56M245.99M158.10M300.31M486.82M234.88M330.16M359.08M552.44M
Total Debt177.83M193.10M205.03M223.53M197.94M124.22M110.17M110.35M60.49M
Net Debt-116.73M-52.89M46.93M-76.78M-364.65M-112.53M-219.99M-248.73M-491.95M

Cash Flow

Currency: USD2017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow35.32M26.92M30.48M5.63M96.27M123.59M58.54M59.38M77.49M
Investing Cash Flow-148.08M-184.09M-213.49M-156.23M-159.84M-408.86M-143.38M-13.93M-68.22M
Financing Cash Flow43.92M108.60M95.12M292.81M250.08M33.33M180.11M-16.53M184.09M
Capital Expenditure9.02M3.13M4.00M3.31M2.92M4.47M4.68M3.35M5.66M
Free Cash Flow26.30M23.79M26.49M2.32M93.35M119.12M53.86M56.03M71.83M
Dividends Paid7.87M30.05M1.08M2.53M5.38M8.01M8.74M9.15M10.10M
FCF to OCF74.45%88.36%86.89%41.18%96.97%96.38%92.00%94.35%92.69%
Dividend Paid to FCF29.94%126.31%4.07%109.11%5.77%6.73%16.24%16.34%14.06%

Earnings

Report DateFeb 27, 2019Jun 24, 2019Jul 25, 2019Oct 24, 2019Jan 24, 2020Apr 30, 2020Jul 29, 2020Oct 27, 2020Jan 27, 2021Apr 27, 2021Jul 27, 2021Oct 26, 2021Jan 27, 2022Apr 26, 2022Jul 22, 2022Oct 21, 2022Jan 26, 2023Apr 27, 2023Jul 25, 2023Oct 24, 2023Jan 26, 2024Apr 25, 2024Jul 18, 2024Oct 23, 2024Jan 24, 2025Apr 24, 2025Jul 16, 2025Oct 23, 2025Jan 26, 2026Apr 28, 2026Jul 17, 2026Oct 22, 2026
EPS Estimate0.000.320.380.350.440.380.260.490.750.690.660.730.670.530.500.700.620.570.620.640.640.570.590.660.680.670.770.860.880.880.860.97
EPS Actual0.420.320.370.450.550.380.310.920.870.820.740.820.790.780.880.860.710.530.550.760.610.640.660.660.960.720.860.960.900.850.96-
Surprise-0.00%-2.63%28.57%25.00%0.00%19.23%87.76%16.00%18.84%12.12%12.33%17.91%47.17%76.00%22.86%14.52%-7.02%-11.29%18.75%-4.69%12.28%11.86%0.00%41.18%7.46%11.69%11.63%2.27%-3.41%11.63%-
Timing-After-hoursPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketPre-market

Key Statistics & Ratios

Market Cap797.27M
Enterprise Value61.16M
Trailing P/E11.50
Forward P/E0.00
Price / Sales3.56
Price / Book1.29
EPS3.68
Book Value33.43
Revenue (TTM)223.82M
Gross Profit (TTM)223.82M
Profit Margin29.09%
Operating Margin37.85%
Return on Equity12.02%
Return on Assets1.34%
Shares Outstanding18.84M
Shares Float14.93M
Beta0.46
Dividend Yield1.67%
Dividend Rate0.72
Payout Ratio18.53%

Analyst Ratings

Buy
Based on 4 analystsTarget 50.75
  • Strong Buy
    1
  • Buy
    3

Ownership Breakdown

Institutions
47.97%
Insiders
20.51%
Retail / Other
31.52%

Top Institutional Holders

  • BlackRock Inc
    1.15M6.12%
  • Vanguard Capital Management, LLC
    558.52K2.96%
  • Acadian Asset Management LLC
    491.44K2.61%
  • American Century Companies Inc
    464.90K2.47%
  • Dimensional Fund Advisors, Inc.
    434.79K2.31%
  • State Street Corp
    389.53K2.07%
  • JPMorgan Chase & Co
    377.10K2.00%
  • Basswood Capital Management LLC
    311.62K1.65%
  • Geode Capital Management, LLC
    292.95K1.55%
  • Bridgeway Capital Management, LLC
    165.44K0.88%
  • Boston Partners Global Investors, Inc
    126.40K0.67%
  • Polaris Capital Management, LLC
    126.00K0.67%
  • Panagora Asset Management Inc
    120.25K0.64%
  • Northern Trust Corp
    114.13K0.61%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    461.41K2.45%
  • Avantis US Small Cap Value ETF
    410.66K2.18%
  • iShares Russell 2000 ETF
    396.17K2.10%
  • Fidelity Small Cap Index
    168.31K0.89%
  • iShares Russell 2000 Value ETF
    155.59K0.83%
  • State Street® SPDR® S&PRgnllBkgETF
    146.25K0.78%

Dividends

20264×
0.19Nov 2, 20260.18Jul 27, 20260.17Apr 27, 20260.17Feb 2, 2026
20254×
0.16Oct 27, 20250.16Jul 28, 20250.15Apr 28, 20250.15Feb 3, 2025
20244×
0.15Oct 28, 20240.14Jul 29, 20240.14Apr 26, 20240.13Jan 26, 2024
20234×
0.13Oct 27, 20230.13Jul 28, 20230.13Apr 28, 20230.13Jan 27, 2023
20224×
0.12Oct 28, 20220.12Jul 29, 20220.11Apr 29, 20220.11Jan 28, 2022
20214×
0.09Oct 29, 20210.09Jul 30, 20210.07Apr 30, 20210.05Jan 29, 2021