EAM Investors LLC acquired a new position in South Plains Financial, Inc. (NASDAQ:SPFI – Get Rating) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 34,981 shares of the company’s stock, valued at approximately $930,000. EAM Investors LLC owned approximately 0.20% of South Plains Financial at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in South Plains Financial by 20.7% during the 1st quarter. Acadian Asset Management LLC now owns 58,245 shares of the company’s stock valued at $1,545,000 after purchasing an additional 9,974 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in South Plains Financial by 40.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 73,348 shares of the company’s stock valued at $1,950,000 after purchasing an additional 21,002 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in South Plains Financial by 8.6% during the 1st quarter. Panagora Asset Management Inc. now owns 56,408 shares of the company’s stock valued at $1,499,000 after purchasing an additional 4,454 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in South Plains Financial by 130.2% during the 1st quarter. JPMorgan Chase & Co. now owns 36,373 shares of the company’s stock valued at $966,000 after purchasing an additional 20,571 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in South Plains Financial by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 6,104 shares of the company’s stock valued at $162,000 after purchasing an additional 2,216 shares in the last quarter. 27.78% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler increased their price target on South Plains Financial to $29.00 in a research note on Monday, July 25th.
South Plains Financial Price Performance
Shares of NASDAQ:SPFI opened at $27.15 on Friday. South Plains Financial, Inc. has a one year low of $22.06 and a one year high of $29.89. The stock has a fifty day moving average of $25.51 and a 200-day moving average of $25.47. The company has a market capitalization of $471.54 million, a PE ratio of 8.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.85.
South Plains Financial (NASDAQ:SPFI – Get Rating) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.38. South Plains Financial had a return on equity of 15.42% and a net margin of 25.64%. The company had revenue of $55.94 million during the quarter, compared to the consensus estimate of $48.50 million. As a group, equities analysts anticipate that South Plains Financial, Inc. will post 3 EPS for the current fiscal year.
South Plains Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, July 29th. This is an increase from South Plains Financial’s previous quarterly dividend of $0.11. South Plains Financial’s dividend payout ratio is 14.68%.
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.
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