South Plains Financial, Inc. (NASDAQ:SPFI) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its position in shares of South Plains Financial, Inc. (NASDAQ:SPFI) by 37.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,042 shares of the company’s stock after selling 6,099 shares during the period. Teacher Retirement System of Texas owned about 0.06% of South Plains Financial worth $333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of South Plains Financial in the 4th quarter valued at $101,000. GAMMA Investing LLC boosted its holdings in shares of South Plains Financial by 8,686.1% in the 1st quarter. GAMMA Investing LLC now owns 6,326 shares of the company’s stock valued at $191,000 after buying an additional 6,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of South Plains Financial by 4.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,754 shares of the company’s stock valued at $235,000 after buying an additional 304 shares in the last quarter. Summit Global Investments acquired a new position in shares of South Plains Financial in the 4th quarter valued at $249,000. Finally, PDT Partners LLC acquired a new position in shares of South Plains Financial in the 4th quarter valued at $274,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James Financial reiterated an “outperform” rating and set a $42.00 price target (up previously from $38.00) on shares of South Plains Financial in a research note on Thursday.

South Plains Financial Stock Performance

NASDAQ:SPFI opened at $41.00 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $36.28 and a two-hundred day moving average price of $34.70. South Plains Financial, Inc. has a twelve month low of $29.36 and a twelve month high of $41.00. The company has a market capitalization of $665.43 million, a P/E ratio of 12.81 and a beta of 0.68.

South Plains Financial (NASDAQ:SPFI) last released its quarterly earnings results on Wednesday, July 16th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. South Plains Financial had a net margin of 18.59% and a return on equity of 12.36%. The company had revenue of $54.67 million for the quarter, compared to analysts’ expectations of $52.24 million. During the same period last year, the company earned $0.66 EPS. As a group, research analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, July 28th will be issued a $0.16 dividend. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, July 28th. This represents a $0.64 annualized dividend and a yield of 1.56%. South Plains Financial’s dividend payout ratio (DPR) is presently 20.00%.

South Plains Financial 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.