South Plains Financial, Inc. $SPFI Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,534 shares of the company’s stock after selling 16,523 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.22% of South Plains Financial worth $1,177,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of South Plains Financial by 8,686.1% in the first quarter. GAMMA Investing LLC now owns 6,326 shares of the company’s stock valued at $191,000 after buying an additional 6,254 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of South Plains Financial by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,754 shares of the company’s stock valued at $235,000 after buying an additional 304 shares during the period. Bailard Inc. acquired a new stake in shares of South Plains Financial in the first quarter valued at $616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of South Plains Financial by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company’s stock valued at $694,000 after buying an additional 2,127 shares during the period. Finally, Trexquant Investment LP lifted its holdings in shares of South Plains Financial by 121.2% in the first quarter. Trexquant Investment LP now owns 22,053 shares of the company’s stock valued at $730,000 after buying an additional 12,085 shares during the period. Institutional investors and hedge funds own 54.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James Financial restated an “outperform” rating and issued a $42.00 price objective (up previously from $38.00) on shares of South Plains Financial in a report on Thursday, July 17th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $44.67.

South Plains Financial Trading Down 0.7%

Shares of NASDAQ SPFI opened at $40.10 on Friday. South Plains Financial, Inc. has a 12 month low of $30.01 and a 12 month high of $42.38. The company has a market cap of $651.22 million, a price-to-earnings ratio of 12.53 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $39.05 and a 200-day simple moving average of $35.86.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Wednesday, July 16th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.The business had revenue of $54.67 million during the quarter, compared to the consensus estimate of $52.24 million. During the same period in the prior year, the business posted $0.66 earnings per share. Sell-side analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, July 28th. This represents a $0.64 annualized dividend and a yield of 1.6%. This is an increase from South Plains Financial’s previous quarterly dividend of $0.15. South Plains Financial’s dividend payout ratio (DPR) is currently 20.00%.

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.