Goldman Sachs Group Inc. Sells 11,942 Shares of South Plains Financial, Inc. $SPFI

Goldman Sachs Group Inc. decreased its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 27.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,621 shares of the company’s stock after selling 11,942 shares during the period. Goldman Sachs Group Inc. owned about 0.19% of South Plains Financial worth $1,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of South Plains Financial by 2.4% in the first quarter. Vanguard Group Inc. now owns 678,579 shares of the company’s stock worth $22,475,000 after purchasing an additional 15,942 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of South Plains Financial by 1.9% in the first quarter. Acadian Asset Management LLC now owns 293,144 shares of the company’s stock worth $9,704,000 after purchasing an additional 5,568 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of South Plains Financial by 11.5% in the first quarter. American Century Companies Inc. now owns 276,923 shares of the company’s stock worth $9,172,000 after purchasing an additional 28,467 shares during the last quarter. Millennium Management LLC boosted its holdings in South Plains Financial by 51.3% in the fourth quarter. Millennium Management LLC now owns 94,332 shares of the company’s stock valued at $3,278,000 after acquiring an additional 31,983 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in South Plains Financial by 352.5% in the first quarter. Invesco Ltd. now owns 92,768 shares of the company’s stock valued at $3,072,000 after acquiring an additional 72,269 shares in the last quarter. Institutional investors own 54.95% of the company’s stock.

Insiders Place Their Bets

In other South Plains Financial news, Director Richard D. Campbell sold 44,417 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $40.21, for a total value of $1,786,007.57. Following the completion of the transaction, the director owned 1,544,969 shares of the company’s stock, valued at approximately $62,123,203.49. The trade was a 2.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 25.39% of the company’s stock.

South Plains Financial Price Performance

SPFI opened at $39.22 on Monday. The stock has a 50-day moving average price of $39.36 and a 200-day moving average price of $36.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $636.93 million, a PE ratio of 12.26 and a beta of 0.72. South Plains Financial, Inc. has a 1 year low of $30.01 and a 1 year high of $42.38.

South Plains Financial (NASDAQ:SPFI) last posted 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. The firm had revenue of $54.67 million during the quarter, compared to analyst estimates of $52.24 million. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.During the same quarter in the previous year, the firm earned $0.66 EPS. Sell-side analysts predict 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 announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, July 28th were given a $0.16 dividend. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, July 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. South Plains Financial’s payout ratio is presently 20.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPFI. Zacks Research cut shares of South Plains Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Raymond James Financial reiterated an “outperform” rating and issued a $42.00 price target (up previously from $38.00) on shares of South Plains Financial in a report on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, South Plains Financial presently has an average rating of “Moderate Buy” and an average price target of $44.67.

About South Plains Financial

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.