GuruFocus - On August 15, 2024, Noe Valles, a Director at South Plains Financial Inc (NASDAQ:SPFI), purchased 50,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's holdings to 336,437 shares.
South Plains Financial Inc operates as a bank holding company for City Bank, a provider of commercial and consumer financial services to small and medium-sized businesses and individuals in Texas and New Mexico.
The shares were bought at a price of $30 each, valuing the transaction at $1,500,000. Following this purchase, the market cap of South Plains Financial Inc stands at $528.469 million.
The company's current price-earnings ratio is 11.94, which is above the industry median of 9.98. The GF Value of the stock is $25.81, indicating that the stock is Modestly Overvalued with a price-to-GF-Value ratio of 1.16.
Over the past year, Noe Valles has increased his stake in the company significantly, purchasing a total of 170,000 shares. There have been 4 insider buys and 11 insider sells in the company over the same period.
This insider buying activity could be a signal to investors about the insiders confidence in the future prospects of South Plains Financial Inc.
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.
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