South Plains Financial Inc (SPFI)

South Plains Financial's stock price increased by 6.17% over the past six months, reaching an all-time high of $42.38 on July 20, 2025. In July 2025, the company reported better-than-expected second-quarter earnings and boosted its dividend by 7%. In October 2025, a quarterly cash dividend was declared, and the company reported strong third-quarter results. In December 2025, the company announced the acquisition of BOH Holdings, Inc., which is anticipated to be 11% accretive to SPFI's earnings per share in 2027, and Raymond James raised its price target on SPFI to $44. Institutional ownership of SPFI increased from 37.6% in June 2025 to 39.0% in September 2025.

South Plains Financial experiences some demand seasonality, including seasonal outflows from municipalities impacting deposits, particularly in the second quarter of 2025, and a seasonal decrease in public fund deposits during the second quarter of 2025. There can be seasonal increases in income from insurance activities, as observed in the third quarter of 2021. Agricultural production loans also exhibit seasonality, with seasonal funding in the third quarter and seasonal repayments in the first quarter. The company generally sees consistent growth in loans held for investment and continued organic growth in retail and commercial deposits.

South Plains Financial, Inc. operates in the financial sector as a regional bank, providing commercial and consumer financial services to small and medium-sized businesses and individuals. The company offers commercial and retail banking, investment, trust, mortgage, and insurance services. It also provides deposit products like demand deposit, interest-bearing, savings accounts, and certificates of deposit, along with debit and credit cards and retirement services.

South Plains Financial operates across Texas and New Mexico, with banking operations in Dallas, El Paso, Greater Houston, the Permian Basin, and College Station in Texas, and Ruidoso and Eastern New Mexico in New Mexico. The company has approximately 25 full-service banking locations and eight loan production offices. The acquisition of BOH Holdings, Inc. is expected to strengthen South Plains' position in the Houston metropolitan area and increase its total branches to 26 across Texas upon completion.

South Plains Financial has received positive recognition for its brand reputation. City Bank, the company's subsidiary, was named to Forbes' America's Best-in-State Banks for 2024, ranking second in Texas. City Bank was also ranked 12th on Forbes' 2024 Best Banks in America list. City Bank was recognized as the Group of the Year by the South Plains Food Bank for its support. South Plains Financial published its 2024 Community Impact Report, highlighting its corporate citizenship, including providing over $400 million in loans and employees volunteering more than 4,200 hours. The company provided 1,257 hours of financial education to over 500 high school students and its Community Rewards program has contributed over $1.3 million to charitable organizations.

Institutional investors hold over 54% of South Plains Financial's stock as of July 2025, and 39.0% as of September 2025. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, Jpmorgan Chase & Co, Acadian Asset Management Llc, American Century Companies Inc, Geode Capital Management, Llc, and State Street Corp. Insider ownership accounts for approximately 15% of the stock as of July 2025. Public and individual investors collectively own nearly 40% of the shares.