South Plains Financial, Inc. $SPFI Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,090 shares of the company’s stock after selling 946 shares during the quarter. Rhumbline Advisers owned 0.11% of South Plains Financial worth $599,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in South Plains Financial by 8,686.1% in the 1st quarter. GAMMA Investing LLC now owns 6,326 shares of the company’s stock worth $191,000 after buying an additional 6,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of South Plains Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company’s stock worth $234,000 after purchasing an additional 312 shares during the last quarter. Jane Street Group LLC bought a new position in shares of South Plains Financial during the first quarter worth about $315,000. Strs Ohio bought a new position in shares of South Plains Financial during the first quarter worth about $520,000. Finally, Bailard Inc. bought a new position in shares of South Plains Financial during the first quarter worth about $616,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Price Performance

Shares of NASDAQ:SPFI opened at $39.23 on Tuesday. The firm’s 50 day moving average is $39.40 and its two-hundred day moving average is $36.15. South Plains Financial, Inc. has a 52 week low of $30.01 and a 52 week high of $42.38. The firm has a market capitalization of $637.10 million, a P/E ratio of 12.26 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $0.86 EPS for the quarter, beating 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 12.27%. The company had revenue of $54.67 million for the quarter, compared to analyst estimates of $52.24 million. During the same quarter last year, the business earned $0.66 earnings per share. Analysts anticipate that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend 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 payout ratio is 20.00%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Richard D. Campbell sold 44,417 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 1,544,969 shares in the company, valued at $62,123,203.49. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 25.39% of the stock is owned by company 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.