South Plains Financial, Inc. (NASDAQ:SPFI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 10.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,849 shares of the company’s stock after selling 2,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in South Plains Financial were worth $605,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. US Bancorp DE purchased a new stake in shares of South Plains Financial in the third quarter valued at about $36,000. FMR LLC raised its holdings in South Plains Financial by 39.3% during the third quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after purchasing an additional 394 shares in the last quarter. SG Americas Securities LLC acquired a new stake in South Plains Financial in the third quarter valued at about $149,000. BNP Paribas Financial Markets boosted its holdings in South Plains Financial by 72.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Creative Planning purchased a new stake in South Plains Financial in the 3rd quarter valued at approximately $504,000. 54.95% of the stock is owned by institutional investors and hedge funds.

South Plains Financial Price Performance

Shares of NASDAQ SPFI opened at $35.83 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. South Plains Financial, Inc. has a one year low of $24.05 and a one year high of $40.90. The firm has a market capitalization of $587.25 million, a P/E ratio of 13.94 and a beta of 0.60. The company’s fifty day moving average is $37.10 and its two-hundred day moving average is $33.00.

South Plains Financial (NASDAQ:SPFI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $72.28 million for the quarter, compared to the consensus estimate of $48.90 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Analysts forecast that South Plains Financial, Inc. will post 2.62 EPS for the current fiscal year.

South Plains Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, October 28th were paid a dividend of $0.15 per share. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, October 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.67%. South Plains Financial’s payout ratio is 23.35%.

Insider Buying and Selling

In other news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction on 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 transaction, the chief executive officer now owns 865,967 shares of the company’s stock, valued at $29,009,894.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 25.39% of the company’s stock.

Analysts Set New Price Targets

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

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.