South Plains Financial, Inc. (NASDAQ:SPFI – Get Free Report) Director James Stein sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $44.54, for a total transaction of $4,454,000.00. Following the completion of the sale, the director owned 242,872 shares in the company, valued at $10,817,518.88. This represents a 29.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
South Plains Financial Stock Up 0.4%
South Plains Financial stock opened at $44.84 on Friday. The firm has a market capitalization of $858.69 million, a price-to-earnings ratio of 12.22 and a beta of 0.46. The company’s 50 day simple moving average is $42.42 and its 200 day simple moving average is $41.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. South Plains Financial, Inc. has a fifty-two week low of $35.34 and a fifty-two week high of $46.94.
South Plains Financial (NASDAQ:SPFI – Get Free Report) last issued its earnings results on Friday, July 17th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $64.49 million during the quarter, compared to the consensus estimate of $63.34 million. South Plains Financial had a net margin of 20.79% and a return on equity of 13.23%. As a group, sell-side analysts anticipate that South Plains Financial, Inc. will post 3.77 EPS for the current year.
South Plains Financial Increases Dividend
Analyst Ratings Changes
SPFI has been the subject of a number of research analyst reports. Weiss Ratings raised South Plains Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $50.00 price objective (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th. Wall Street Zen raised South Plains Financial from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of South Plains Financial in a report on Monday, July 20th. Finally, Piper Sandler reduced their price target on shares of South Plains Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.60.
View Our Latest Research Report on South Plains Financial
Institutional Investors Weigh In On South Plains Financial
A number of hedge funds and other institutional investors have recently bought and sold shares of SPFI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in South Plains Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock worth $234,000 after acquiring an additional 312 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of South Plains Financial by 0.4% in the first quarter. Empowered Funds LLC now owns 89,245 shares of the company’s stock valued at $2,956,000 after purchasing an additional 398 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of South Plains Financial in the first quarter worth $315,000. Rhumbline Advisers lifted its position in shares of South Plains Financial by 14.0% in the second quarter. Rhumbline Advisers now owns 20,622 shares of the company’s stock worth $743,000 after purchasing an additional 2,532 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in South Plains Financial during the second quarter worth $106,000. Institutional investors and hedge funds own 54.95% of the company’s stock.
South Plains Financial Company Profile
South Plains Financial, Inc is the bank holding company for South Plains Bank, a community-oriented financial institution headquartered in Lubbock, Texas. The company operates as a full-service commercial bank, providing a broad spectrum of banking solutions to individuals, small businesses and agricultural clients. Its principal subsidiary, South Plains Bank, holds state and national banking charters and is subject to regulatory oversight by the Federal Reserve and various state banking authorities.
The company’s product offerings include traditional deposit accounts such as checking, savings and money market accounts, as well as time deposits.
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