South Plains Financial, Inc. (NASDAQ:SPFI) Stock Position Boosted by Barclays PLC

Barclays PLC boosted its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 29.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,367 shares of the company’s stock after purchasing an additional 12,200 shares during the period. Barclays PLC owned approximately 0.33% of South Plains Financial worth $1,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in South Plains Financial in the 3rd quarter worth about $36,000. FMR LLC grew its stake in South Plains Financial by 39.3% in the third quarter. FMR LLC now owns 1,397 shares of the company’s stock valued at $47,000 after purchasing an additional 394 shares in the last quarter. SG Americas Securities LLC acquired a new position in South Plains Financial in the 3rd quarter worth about $149,000. BNP Paribas Financial Markets lifted its stake 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 acquiring an additional 1,891 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in South Plains Financial by 20.9% in the third quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock worth $157,000 after purchasing an additional 800 shares in the last quarter. 54.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group upped their target price 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 Activity at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction on 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 sale, the chief executive officer now owns 865,967 shares in the company, valued at $29,009,894.50. The trade was a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 25.39% of the company’s stock.

South Plains Financial Stock Down 2.7 %

South Plains Financial stock opened at $35.02 on Friday. The firm has a market cap of $573.98 million, a price-to-earnings ratio of 13.63 and a beta of 0.60. The firm has a fifty day moving average price of $37.17 and a two-hundred day moving average price of $33.32. South Plains Financial, Inc. has a fifty-two week low of $24.05 and a fifty-two week 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.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. The firm had revenue of $72.28 million during the quarter, compared to the consensus estimate of $48.90 million. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, analysts forecast that South Plains Financial, Inc. will post 2.62 earnings per share for the current year.

South Plains Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, October 28th were given a dividend of $0.15 per share. The ex-dividend date was Monday, October 28th. This is an increase from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 1.71%. South Plains Financial’s dividend payout ratio (DPR) is 23.35%.

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.