On May 6, 2024, Noe Valles, Director at South Plains Financial Inc (SPFI, Financial), purchased 40,000 shares of the company, as reported in a recent SEC Filing. This transaction increases the insider's total holdings to 143,000 shares, valued at approximately $1,075,000 based on the current share price.
South Plains Financial Inc operates as a bank holding company for City Bank, a provider of banking products and services to businesses and individuals in Texas and New Mexico. The company offers a range of deposit and loan products, as well as other financial services.
The recent purchase by the insider reflects a continuing trend of insider activity at the company. Over the past year, there have been equal numbers of insider buys and sells, with 7 transactions each.
Shares of South Plains Financial Inc were trading at $25 on the day of the transaction, giving the company a market cap of approximately $453.83 million. The price-earnings ratio of the stock stands at 7.39, which is below both the industry median and the company's historical median.
According to the GF Value, the intrinsic value estimate for South Plains Financial Inc is $23.47 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.07.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates provided by Morningstar analysts.
This insider purchase could be a signal to investors about the perceived value of the stock at current prices, considering the insider's increasing stake in the company.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
