South Plains Financial, Inc. (NASDAQ:SPFI) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in South Plains Financial, Inc. (NASDAQ:SPFI) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,628 shares of the company’s stock after purchasing an additional 1,230 shares during the period. SG Americas Securities LLC’s holdings in South Plains Financial were worth $192,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SPFI. BlackRock Inc. grew its holdings in South Plains Financial by 14.0% in the third quarter. BlackRock Inc. now owns 1,092,186 shares of the company’s stock valued at $30,101,000 after purchasing an additional 133,929 shares during the period. Venturi Wealth Management LLC acquired a new stake in South Plains Financial in the third quarter valued at approximately $2,658,000. Rosenthal Henry Capital Advisors Inc. acquired a new stake in South Plains Financial in the fourth quarter valued at approximately $2,444,000. EAM Investors LLC acquired a new stake in shares of South Plains Financial in the fourth quarter worth approximately $1,169,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of South Plains Financial by 43.2% in the third quarter. Dimensional Fund Advisors LP now owns 137,310 shares of the company’s stock worth $3,785,000 after acquiring an additional 41,425 shares during the last quarter. 54.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James lifted their price target on South Plains Financial from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th.

South Plains Financial Stock Performance

Shares of NASDAQ:SPFI opened at $24.66 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.90. The business’s 50 day moving average price is $25.89 and its 200-day moving average price is $26.89. The firm has a market capitalization of $405.16 million, a PE ratio of 6.79 and a beta of 0.56. South Plains Financial, Inc. has a 1 year low of $18.75 and a 1 year high of $30.22.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings results on Friday, January 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The firm had revenue of $66.38 million during the quarter, compared to analyst estimates of $47.25 million. South Plains Financial had a return on equity of 11.06% and a net margin of 21.54%. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, equities research analysts expect that South Plains Financial, Inc. will post 2.4 earnings per share for the current fiscal year.

South Plains Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, January 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, January 26th. South Plains Financial’s dividend payout ratio (DPR) is currently 14.33%.

Insiders Place Their Bets

In related news, Director Noe G. Valles acquired 30,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $27.00 per share, with a total value of $810,000.00. Following the completion of the purchase, the director now owns 195,512 shares of the company’s stock, valued at approximately $5,278,824. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Noe G. Valles acquired 30,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $27.00 per share, with a total value of $810,000.00. Following the completion of the purchase, the director now owns 195,512 shares of the company’s stock, valued at approximately $5,278,824. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Curtis C. Griffith sold 100,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.75, for a total value of $2,475,000.00. Following the transaction, the chief executive officer now directly owns 1,103,797 shares in the company, valued at approximately $27,318,975.75. The disclosure for this sale can be found here. 25.86% of the stock is currently owned by corporate insiders.

South Plains Financial Company Profile

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.