JPMorgan Chase & Co. Grows Position in South Plains Financial, Inc. (NASDAQ:SPFI)

JPMorgan Chase & Co. grew its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 200.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,774 shares of the company’s stock after acquiring an additional 117,207 shares during the quarter. JPMorgan Chase & Co. owned about 1.07% of South Plains Financial worth $5,962,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC acquired a new position in South Plains Financial in the 3rd quarter valued at about $2,882,000. Dimensional Fund Advisors LP raised its position in shares of South Plains Financial by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 364,341 shares of the company’s stock valued at $9,837,000 after buying an additional 30,665 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of South Plains Financial by 14.9% during the second quarter. American Century Companies Inc. now owns 175,013 shares of the company’s stock valued at $4,725,000 after buying an additional 22,695 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of South Plains Financial by 77.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 47,659 shares of the company’s stock valued at $1,617,000 after buying an additional 20,756 shares during the period. Finally, Creative Planning acquired a new stake in South Plains Financial during the third quarter worth approximately $504,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was 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 of the company’s stock, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.39% of the stock is currently owned by insiders.

South Plains Financial Stock Down 0.3 %

Shares of NASDAQ:SPFI opened at $34.67 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market cap of $568.24 million, a price-to-earnings ratio of 13.49 and a beta of 0.62. The stock’s 50-day moving average price is $36.97 and its two-hundred day moving average price is $34.09. South Plains Financial, Inc. has a 12-month low of $24.05 and a 12-month high of $40.90.

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

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.