Jane Street Group LLC Decreases Stake in South Plains Financial, Inc. (NASDAQ:SPFI)

Jane Street Group LLC lessened its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 45.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,181 shares of the company’s stock after selling 6,932 shares during the quarter. Jane Street Group LLC’s holdings in South Plains Financial were worth $277,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in South Plains Financial by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 63,462 shares of the company’s stock worth $1,713,000 after purchasing an additional 4,787 shares during the last quarter. American Century Companies Inc. lifted its stake in South Plains Financial by 14.9% during the second 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 lifted its stake in South Plains Financial by 9.2% during the second 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 during the last quarter. Salzhauer Michael lifted its stake in South Plains Financial by 87.1% during the second quarter. Salzhauer Michael now owns 18,708 shares of the company’s stock worth $505,000 after purchasing an additional 8,708 shares during the last quarter. Finally, Prospector Partners LLC lifted its stake in South Plains Financial by 6.6% during the second quarter. Prospector Partners LLC now owns 33,340 shares of the company’s stock worth $900,000 after purchasing an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 54.95% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group boosted 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.

South Plains Financial Trading Down 3.4 %

SPFI opened at $32.35 on Friday. The firm has a market cap of $530.22 million, a price-to-earnings ratio of 12.59 and a beta of 0.62. South Plains Financial, Inc. has a 52 week low of $24.05 and a 52 week high of $40.90. The business’s 50 day moving average is $37.16 and its two-hundred day moving average is $33.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

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

South Plains Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, October 28th were given 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 yield of 1.85%. South Plains Financial’s payout ratio is 23.35%.

Insiders Place Their Bets

In other news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total value of $1,675,000.00. Following the transaction, the chief executive officer now owns 865,967 shares of the company’s stock, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.39% of the stock is currently owned by corporate insiders.

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.