South Plains Financial, Inc. (NASDAQ:SPFI) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 45.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,181 shares of the company’s stock after selling 6,932 shares during the quarter. Jane Street Group LLC’s holdings in South Plains Financial were worth $277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning acquired a new stake in shares of South Plains Financial in the 3rd quarter worth $504,000. BNP Paribas Financial Markets increased its position in shares of South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock worth $153,000 after purchasing an additional 1,891 shares during the last quarter. State Street Corp increased its position in shares of South Plains Financial by 4.7% during the 3rd quarter. State Street Corp now owns 274,701 shares of the company’s stock worth $9,318,000 after purchasing an additional 12,271 shares during the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 394 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of South Plains Financial by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 175,013 shares of the company’s stock worth $4,725,000 after purchasing an additional 22,695 shares during the last quarter. 54.95% of the stock is owned by institutional investors and hedge funds.

South Plains Financial Stock Performance

Shares of South Plains Financial stock opened at $32.35 on Friday. The business has a 50-day moving average of $37.16 and a 200 day moving average of $33.87. South Plains Financial, Inc. has a 12 month low of $24.05 and a 12 month high of $40.90. The stock has a market capitalization of $530.22 million, a price-to-earnings ratio of 12.59 and a beta of 0.62. 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 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $72.28 million during the quarter, compared to analysts’ expectations of $48.90 million. During the same period last year, the business posted $0.78 EPS. As a group, sell-side 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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.85%. This is a boost from South Plains Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, October 28th. South Plains Financial’s dividend payout ratio (DPR) is 23.35%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised 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 Activity at South Plains Financial

In other news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total value of $1,675,000.00. Following the completion of the transaction, the chief executive officer now owns 865,967 shares in the company, valued at approximately $29,009,894.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.39% of the stock is currently owned by company insiders.

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.