South Plains Financial Inc. (SPFI) saw its stock price surge 8.58% in intraday trading on Friday, driven by the company's impressive fourth quarter 2024 earnings results and sustained dividend payout.
The regional bank reported Q4 earnings per share of $0.96, significantly surpassing the consensus analyst estimate of $0.68 by 41.18%. Revenue for the quarter also came in strong at $51.80 million, beating expectations of $49.16 million by 5.37%. The robust financial performance signals continued growth for South Plains Financial and fueled investor confidence.
Further bolstering the stock's rally, the company announced it would maintain its quarterly cash dividend at $0.15 per share. This steady dividend payout reflects South Plains Financial's healthy financial position and commitment to rewarding shareholders, providing another tailwind for the stock price.
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