UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $694,000 Stock Holdings in South Plains Financial, Inc. (NASDAQ:SPFI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,976 shares of the company’s stock after acquiring an additional 2,127 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in South Plains Financial were worth $694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPFI. JPMorgan Chase & Co. raised its holdings in South Plains Financial by 40.8% in the 4th quarter. JPMorgan Chase & Co. now owns 247,430 shares of the company’s stock valued at $8,598,000 after acquiring an additional 71,656 shares in the last quarter. American Century Companies Inc. raised its holdings in South Plains Financial by 16.5% in the 4th quarter. American Century Companies Inc. now owns 248,456 shares of the company’s stock valued at $8,634,000 after acquiring an additional 35,207 shares in the last quarter. Millennium Management LLC raised its holdings in South Plains Financial by 51.3% in the 4th quarter. Millennium Management LLC now owns 94,332 shares of the company’s stock valued at $3,278,000 after acquiring an additional 31,983 shares in the last quarter. Quantinno Capital Management LP raised its holdings in South Plains Financial by 148.8% in the 4th quarter. Quantinno Capital Management LP now owns 44,741 shares of the company’s stock valued at $1,555,000 after acquiring an additional 26,757 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in South Plains Financial by 51.0% in the 4th quarter. Nuveen Asset Management LLC now owns 65,204 shares of the company’s stock valued at $2,266,000 after acquiring an additional 22,010 shares in the last quarter. 54.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Raymond James dropped their price objective on South Plains Financial from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, April 25th.

South Plains Financial Trading Down 0.8%

Shares of SPFI opened at $36.41 on Thursday. South Plains Financial, Inc. has a 52-week low of $25.13 and a 52-week high of $40.91. The business’s fifty day moving average is $34.12 and its 200-day moving average is $34.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $590.86 million, a price-to-earnings ratio of 12.47 and a beta of 0.70.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. South Plains Financial had a return on equity of 11.75% and a net margin of 17.20%. The company had revenue of $49.15 million for the quarter, compared to analyst estimates of $48.93 million. During the same quarter last year, the company posted $0.64 EPS. Equities analysts anticipate that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, April 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. South Plains Financial’s payout ratio is 20.00%.

South Plains Financial declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 25th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.