On November 5, 2024, Noe Valles, Director at South Plains Financial Inc (SPFI, Financial), purchased 50,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's holdings to 386,437 shares.
South Plains Financial Inc is a financial institution that operates primarily in the Texas Panhandle and South Plains regions of Texas. The company offers a range of banking services, including commercial and consumer loans, as well as deposit products and other financial services.
The purchase occurred at a stock price of $33.5, valuing the transaction at $1,675,000. Following this acquisition, the insider now owns shares worth approximately $12,945,640. Over the past year, Noe Valles has bought a total of 220,000 shares and has not sold any shares.
The insider transaction history for South Plains Financial Inc shows a pattern of more insider sales than buys over the past year, with 5 insider buys and 12 insider sells.
Shares of South Plains Financial Inc were trading at $33.5 on the day of the transaction, giving the company a market cap of approximately $653.991 million. The price-earnings ratio of the stock is 15.53, which is above the industry median of 10.435.
According to the GF Value, the intrinsic value of the stock is estimated at $26.79, which suggests that the stock is Significantly Overvalued with a price-to-GF-Value ratio of 1.25.
This insider buying activity could be a signal to investors about the insider’s confidence in the future performance of South Plains Financial Inc, despite the current valuation metrics indicating a premium compared to the GF Value.
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.
