UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in South Plains Financial, Inc. (NASDAQ:SPFI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of South Plains Financial, Inc. (NASDAQ:SPFI) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,849 shares of the company’s stock after selling 2,097 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of South Plains Financial worth $605,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in South Plains Financial by 39.3% during the 3rd quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after acquiring an additional 394 shares in the last quarter. US Bancorp DE purchased a new stake in shares of South Plains Financial during the 3rd quarter worth $36,000. Rosenthal Henry Capital Advisors Inc. grew its stake in shares of South Plains Financial by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company’s stock worth $2,865,000 after purchasing an additional 1,750 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in South Plains Financial by 72.4% in the third quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after buying an additional 1,891 shares during the last quarter. Finally, Prospector Partners LLC raised its stake in South Plains Financial by 6.6% in the second quarter. Prospector Partners LLC now owns 33,340 shares of the company’s stock valued at $900,000 after buying an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Trading Up 1.6 %

NASDAQ SPFI opened at $35.83 on Friday. The firm’s fifty day moving average price is $37.10 and its 200 day moving average price is $33.00. South Plains Financial, Inc. has a 12 month low of $24.05 and a 12 month high of $40.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $587.25 million, a price-to-earnings ratio of 13.94 and a beta of 0.60.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $72.28 million for the quarter, compared to analyst estimates of $48.90 million. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. During the same quarter last year, the company posted $0.78 earnings per share. On average, sell-side analysts expect that South Plains Financial, Inc. will post 2.62 earnings per share for the current fiscal year.

South Plains Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, October 28th were issued a $0.15 dividend. This is an increase from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, October 28th. South Plains Financial’s dividend payout ratio is presently 23.35%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their price objective on South Plains Financial from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Insider Transactions at South Plains Financial

In other news, CEO Curtis C. Griffith sold 50,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the completion of the sale, the chief executive officer now owns 865,967 shares in the company, valued at approximately $29,009,894.50. This represents a 5.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.39% of the company’s stock.

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.