South Plains Financial Inc. (SPFI) saw its stock price surge 6.11% in pre-market trading on Friday, January 24, as the regional bank reported better-than-expected fourth-quarter earnings and maintained its quarterly dividend payout.
The Lubbock, Texas-based company reported Q4 2024 earnings per share of $0.96, surpassing the analyst consensus estimate of $0.68 by a significant 41.18%. Revenue for the quarter came in at $51.80 million, beating expectations of $49.16 million by 5.37%.
South Plains Financial also announced that it would keep its quarterly cash dividend unchanged at $0.15 per share, payable on February 18 to shareholders of record as of February 3. The steady dividend payout signals the company's confidence in its financial position and commitment to returning value to shareholders.
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