Bank of New York Mellon Corp Sells 572 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

Bank of New York Mellon Corp lowered its position in South Plains Financial, Inc. (NASDAQ:SPFIFree Report) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 61,157 shares of the company’s stock after selling 572 shares during the period. Bank of New York Mellon Corp’s holdings in South Plains Financial were worth $1,617,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its holdings in South Plains Financial by 60.7% in the 1st quarter. FMR LLC now owns 1,530 shares of the company’s stock worth $33,000 after buying an additional 578 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of South Plains Financial by 105.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,845 shares of the company’s stock valued at $42,000 after purchasing an additional 949 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of South Plains Financial by 676.4% during the 1st quarter. Citigroup Inc. now owns 2,702 shares of the company’s stock valued at $58,000 after purchasing an additional 2,354 shares during the last quarter. UBS Group AG bought a new position in shares of South Plains Financial during the 4th quarter valued at about $101,000. Finally, Legal & General Group Plc boosted its holdings in shares of South Plains Financial by 344.1% during the 4th quarter. Legal & General Group Plc now owns 3,815 shares of the company’s stock valued at $105,000 after purchasing an additional 2,956 shares during the last quarter. Institutional investors own 31.13% of the company’s stock.

South Plains Financial Stock Down 2.2 %

SPFI opened at $25.46 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.33. South Plains Financial, Inc. has a 52 week low of $18.75 and a 52 week high of $30.22. The firm has a 50-day simple moving average of $28.29 and a two-hundred day simple moving average of $27.10. The company has a market capitalization of $419.58 million, a PE ratio of 7.01 and a beta of 0.57.

South Plains Financial (NASDAQ:SPFIGet Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). South Plains Financial had a net margin of 21.54% and a return on equity of 11.28%. The business had revenue of $66.38 million during the quarter, compared to the consensus estimate of $47.25 million. During the same period in the previous year, the business posted $0.71 EPS. Analysts forecast that South Plains Financial, Inc. will post 2.4 earnings per share for the current fiscal year.

South Plains Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Monday, January 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, January 26th. South Plains Financial’s payout ratio is 14.33%.

Insider Activity at South Plains Financial

In related news, Director Richard D. Campbell sold 54,400 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $27.50, for a total value of $1,496,000.00. Following the completion of the transaction, the director now owns 1,589,386 shares of the company’s stock, valued at approximately $43,708,115. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Raymond James increased their price objective on shares of South Plains Financial from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, January 29th.

Get Our Latest Research Report on SPFI

South Plains Financial Profile

(Free Report)

South Plains Financial, Inc operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company operates through two segments, Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits.

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Institutional Ownership by Quarter for South Plains Financial (NASDAQ:SPFI)

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