South Plains Financial’s (NASDAQ:SPFI) Quiet Period To Expire on June 18th

South Plains Financial’s (NASDAQ:SPFI) quiet period is set to expire on Tuesday, June 18th. South Plains Financial had issued 3,380,000 shares in its IPO on May 9th. The total size of the offering was $59,150,000 based on an initial share price of $17.50. During South Plains Financial’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of research analysts have recently commented on SPFI shares. Keefe, Bruyette & Woods started coverage on shares of South Plains Financial in a research report on Monday, June 3rd. They set an “outperform” rating and a $22.00 price objective for the company. Sandler O’Neill started coverage on shares of South Plains Financial in a research report on Monday, June 3rd. They set a “buy” rating and a $21.00 price objective for the company.

Shares of SPFI opened at $17.98 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.13. South Plains Financial has a 52 week low of $16.04 and a 52 week high of $18.70.

In related news, CFO Steven B. Crockett acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $17.50 per share, with a total value of $87,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cory T. Newsom acquired 5,500 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $17.50 per share, with a total value of $96,250.00. The disclosure for this purchase can be found here. Insiders have bought 11,050 shares of company stock valued at $193,375 in the last ninety days.

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About South Plains Financial

There is no company description available for South Plains Financial Inc

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