Strs Ohio Purchases Shares of 15,700 South Plains Financial, Inc. $SPFI

Strs Ohio purchased a new stake in shares of South Plains Financial, Inc. (NASDAQ:SPFI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,700 shares of the company’s stock, valued at approximately $520,000. Strs Ohio owned about 0.10% of South Plains Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPFI. GAMMA Investing LLC boosted its position in shares of South Plains Financial by 8,686.1% in the first quarter. GAMMA Investing LLC now owns 6,326 shares of the company’s stock valued at $191,000 after acquiring an additional 6,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of South Plains Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock valued at $234,000 after acquiring an additional 312 shares during the period. Jane Street Group LLC bought a new stake in shares of South Plains Financial in the first quarter valued at approximately $315,000. Bailard Inc. bought a new stake in shares of South Plains Financial in the first quarter valued at approximately $616,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of South Plains Financial by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company’s stock valued at $694,000 after acquiring an additional 2,127 shares during the period. Institutional investors and hedge funds own 54.95% of the company’s stock.

Insider Buying and Selling at South Plains Financial

In other news, Director Richard D. Campbell sold 15,583 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $39.62, for a total value of $617,398.46. Following the completion of the sale, the director directly owned 1,529,386 shares in the company, valued at approximately $60,594,273.32. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 25.39% of the company’s stock.

Wall Street Analyst Weigh In

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

South Plains Financial Stock Performance

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

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Wednesday, July 16th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.The company had revenue of $54.67 million during the quarter, compared to analyst estimates of $52.24 million. During the same period last year, the company posted $0.66 earnings per share. On average, equities research analysts predict that South Plains Financial, Inc. will post 2.85 EPS 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. Stockholders of record on Monday, July 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from South Plains Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, July 28th. South Plains Financial’s dividend payout ratio is 20.00%.

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.