South Plains Financial (NASDAQ:SPFI – Free Report) had its target price boosted by Hovde Group from $46.00 to $47.00 in a research note released on Monday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.
South Plains Financial Price Performance
NASDAQ SPFI opened at $36.63 on Monday. South Plains Financial has a 52 week low of $24.05 and a 52 week high of $40.90. The firm has a market capitalization of $600.37 million, a P/E ratio of 14.25 and a beta of 0.62. 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 company has a 50-day moving average price of $36.47 and a 200-day moving average price of $34.52.
South Plains Financial (NASDAQ:SPFI – Get Free Report) last released its quarterly earnings results on Friday, January 24th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.67 by $0.29. South Plains Financial had a net margin of 15.51% and a return on equity of 10.39%. During the same quarter last year, the company posted $0.61 earnings per share. Equities research analysts anticipate that South Plains Financial will post 2.62 earnings per share for the current year.
South Plains Financial Dividend Announcement
Insider Activity at South Plains Financial
In related 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 transaction of $1,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 865,967 shares in the company, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.39% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in South Plains Financial by 39.3% in the 3rd quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after purchasing an additional 394 shares during the period. Public Employees Retirement System of Ohio boosted its stake in South Plains Financial by 20.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock worth $157,000 after purchasing an additional 800 shares during the period. US Bancorp DE bought a new position in South Plains Financial in the 3rd quarter worth approximately $36,000. SG Americas Securities LLC boosted its stake in South Plains Financial by 26.8% in the 4th quarter. SG Americas Securities LLC now owns 5,556 shares of the company’s stock worth $193,000 after purchasing an additional 1,175 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. boosted its stake in South Plains Financial by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company’s stock worth $2,865,000 after purchasing an additional 1,750 shares during the period. 54.95% of the stock is currently owned by institutional investors.
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.
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