Noe Valles Bought 26% More Shares In South Plains Financial

South Plains Financial, Inc. (NASDAQ:SPFI) shareholders (or potential shareholders) will be happy to see that the Independent Director, Noe Valles, recently bought a whopping US$3.3m worth of stock, at a price of US$33.00. Not only is that a big swing, but it increased their holding size by 26%, which is definitely great to see.

View our latest analysis for South Plains Financial

South Plains Financial Insider Transactions Over The Last Year

Notably, that recent purchase by Noe Valles is the biggest insider purchase of South Plains Financial shares that we've seen in the last year. That means that an insider was happy to buy shares at above the current price of US$32.38. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. The only individual insider to buy over the last year was Noe Valles.

Curtis Griffith ditched 257.83k shares over the year. The average price per share was US$31.27. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

If you are like me, then you will not want to miss this free list of small cap stocks that are not only being bought by insiders but also have attractive valuations.

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 16% of South Plains Financial shares, worth about US$87m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About South Plains Financial Insiders?

It's certainly positive to see the recent insider purchase. But we can't say the same for the transactions over the last 12 months. While recent transactions indicate confidence in South Plains Financial, insiders don't own enough of the company to overcome our cautiousness about the longer term transactions. Overall they seem reasonably aligned. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for South Plains Financial.

But note: South Plains Financial may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.