South Plains Financial, Inc. (NASDAQ:SPFI – Get Free Report) Director Richard Campbell sold 132,714 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $44.75, for a total value of $5,938,951.50. Following the completion of the sale, the director directly owned 1,412,255 shares of the company’s stock, valued at approximately $63,198,411.25. This trade represents a 8.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
South Plains Financial Stock Down 0.4%
NASDAQ:SPFI opened at $45.31 on Thursday. The business’s fifty day moving average price is $42.69 and its 200 day moving average price is $42.08. The firm has a market capitalization of $867.51 million, a price-to-earnings ratio of 12.35 and a beta of 0.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.12. South Plains Financial, Inc. has a 1-year low of $35.34 and a 1-year high of $46.94.
South Plains Financial (NASDAQ:SPFI – Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. South Plains Financial had a return on equity of 13.23% and a net margin of 20.79%.The firm had revenue of $64.49 million during the quarter, compared to analyst estimates of $63.34 million. On average, sell-side analysts forecast that South Plains Financial, Inc. will post 3.77 earnings per share for the current fiscal year.
South Plains Financial Increases Dividend
Hedge Funds Weigh In On South Plains Financial
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPFI. BNP Paribas Financial Markets grew its holdings in South Plains Financial by 11.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,594 shares of the company’s stock valued at $93,000 after buying an additional 258 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of South Plains Financial by 71.2% during the first quarter. Royal Bank of Canada now owns 642 shares of the company’s stock worth $27,000 after buying an additional 267 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of South Plains Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock worth $234,000 after buying an additional 312 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of South Plains Financial by 0.4% during the first quarter. Empowered Funds LLC now owns 89,245 shares of the company’s stock worth $2,956,000 after buying an additional 398 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of South Plains Financial by 4.4% in the third quarter. Mariner LLC now owns 10,337 shares of the company’s stock valued at $400,000 after acquiring an additional 434 shares during the period. Institutional investors and hedge funds own 54.95% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on SPFI shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set 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 upgraded shares of South Plains Financial from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings raised shares of South Plains Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Piper Sandler decreased their target price on shares of South Plains Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, Raymond James Financial restated an “outperform” rating and set a $50.00 price target on shares of South Plains Financial in a report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.
Check Out Our Latest Research Report on South Plains Financial
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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