South Plains Financial’s (SPFI) Outperform Rating Reaffirmed at Raymond James

South Plains Financial (NASDAQ:SPFI – Get Rating)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a report released on Friday, The Fly reports. They currently have a $26.00 target price on the stock. Raymond James’ target price points to a potential upside of 18.45% from the company’s current price.

South Plains Financial Trading Down 4.3 %

Shares of SPFI stock opened at $21.95 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $26.85 and a two-hundred day moving average price of $28.31. South Plains Financial has a 12-month low of $21.59 and a 12-month high of $31.96. The firm has a market cap of $374.25 million, a P/E ratio of 6.80 and a beta of 0.65.

South Plains Financial (NASDAQ:SPFI – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.09. South Plains Financial had a return on equity of 16.08% and a net margin of 24.56%. The firm had revenue of $49.00 million during the quarter, compared to analyst estimates of $50.80 million. Equities analysts anticipate that South Plains Financial will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Denali Advisors LLC increased its holdings in shares of South Plains Financial by 8.9% in the third quarter. Denali Advisors LLC now owns 4,900 shares of the company’s stock worth $135,000 after buying an additional 400 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of South Plains Financial by 16.1% in the third quarter. Hillsdale Investment Management Inc. now owns 3,600 shares of the company’s stock worth $99,000 after buying an additional 500 shares during the period. Royal Bank of Canada increased its holdings in shares of South Plains Financial by 4.7% in the third quarter. Royal Bank of Canada now owns 12,521 shares of the company’s stock worth $345,000 after buying an additional 564 shares during the period. Martingale Asset Management L P increased its holdings in shares of South Plains Financial by 3.2% in the third quarter. Martingale Asset Management L P now owns 20,379 shares of the company’s stock worth $562,000 after buying an additional 625 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of South Plains Financial by 9.8% in the first quarter. First Trust Advisors LP now owns 9,060 shares of the company’s stock worth $241,000 after buying an additional 805 shares during the period. Hedge funds and other institutional investors own 25.63% of the company’s stock.

About South Plains Financial

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South Plains Financial, Inc is a bank holding company, which engages in the provision of commercial and retail banking services through its subsidiary, City Bank. The firm also offers insurance, investment, trust and mortgage services through its other non-bank subsidiaries. It operates through the Community Banking and Insurance business segments.