Totally unrelated, but is “Spaniard” actually a common/accepted term for Spanish people?

It’s not a term I encounter often in everyday life, though to be fair I don’t exactly have a lot of people visiting my neck of the woods from Spain either.

Something about the term feels kind of derogatory to me, or at least old-fashioned, but that might be because the only time I tend to hear it is when I’m watching something like a pirate movie and they’re talking about looting a Spanish ship or something along those lines.

Or maybe because some other more common English words that end in -ard are insults (like drunkard, bastard, and retard,) so my brain kind of lumps it in with them.

I remember having this conversation back when I was in high school while we had some Spanish exchange students, but never bothered to look into it further (and never had the opportunity to ask one of the Spanish kids since I took French) so I guess I’m just looking to settle a debate I had with some kids 20 years ago.