Public Employees Retirement System of Ohio Has $157,000 Stake in South Plains Financial, Inc. (NASDAQ:SPFI)

Public Employees Retirement System of Ohio raised its holdings in South Plains Financial, Inc. (NASDAQ:SPFI) by 20.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,631 shares of the company’s stock after acquiring an additional 800 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in South Plains Financial were worth $157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of South Plains Financial by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 63,462 shares of the company’s stock valued at $1,713,000 after acquiring an additional 4,787 shares during the last quarter. Acadian Asset Management LLC grew its stake in South Plains Financial by 14.3% in the second quarter. Acadian Asset Management LLC now owns 239,078 shares of the company’s stock valued at $6,451,000 after purchasing an additional 29,933 shares in the last quarter. American Century Companies Inc. increased its position in shares of South Plains Financial by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 175,013 shares of the company’s stock worth $4,725,000 after purchasing an additional 22,695 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of South Plains Financial by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 364,341 shares of the company’s stock worth $9,837,000 after purchasing an additional 30,665 shares in the last quarter. Finally, Salzhauer Michael boosted its holdings in shares of South Plains Financial by 87.1% in the 2nd quarter. Salzhauer Michael now owns 18,708 shares of the company’s stock valued at $505,000 after buying an additional 8,708 shares during the last quarter. 54.95% of the stock is owned by institutional investors.

South Plains Financial Price Performance

Shares of NASDAQ SPFI opened at $35.83 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $37.10 and its two-hundred day moving average price is $33.04. The company has a market cap of $587.25 million, a PE ratio of 13.94 and a beta of 0.60. South Plains Financial, Inc. has a twelve month low of $24.05 and a twelve month high of $40.90.

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

South Plains Financial Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Transactions at South Plains Financial

In related news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 865,967 shares of the company’s stock, valued at approximately $29,009,894.50. This trade represents a 5.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 25.39% of the stock is currently owned by corporate insiders.

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.