Exchange Traded Concepts LLC Takes $282,000 Position in South Plains Financial, Inc. (NASDAQ:SPFI)

Exchange Traded Concepts LLC purchased a new stake in South Plains Financial, Inc. (NASDAQ:SPFI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,114 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in South Plains Financial by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 364,341 shares of the company’s stock valued at $9,837,000 after acquiring an additional 30,665 shares in the last quarter. State Street Corp increased its holdings in shares of South Plains Financial by 4.7% in the third quarter. State Street Corp now owns 274,701 shares of the company’s stock valued at $9,318,000 after purchasing an additional 12,271 shares in the last quarter. Geode Capital Management LLC raised its position in South Plains Financial by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 272,574 shares of the company’s stock worth $9,248,000 after purchasing an additional 6,292 shares during the last quarter. JPMorgan Chase & Co. raised its position in South Plains Financial by 200.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 175,774 shares of the company’s stock worth $5,962,000 after purchasing an additional 117,207 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in South Plains Financial during the 3rd quarter worth $2,882,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Trading Down 0.1 %

Shares of NASDAQ SPFI opened at $35.93 on Friday. South Plains Financial, Inc. has a fifty-two week low of $24.05 and a fifty-two week high of $40.90. The firm has a market capitalization of $588.89 million, a P/E ratio of 12.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $34.65.

South Plains Financial (NASDAQ:SPFI) last issued its 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 17.20% and a return on equity of 11.75%. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, February 3rd. South Plains Financial’s payout ratio is 20.55%.

Insiders Place Their Bets

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total value of $1,675,000.00. Following the sale, the chief executive officer now directly owns 865,967 shares in the company, valued at approximately $29,009,894.50. This trade represents 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 the SEC website. Company insiders own 25.39% of the company’s stock.

Wall Street Analyst Weigh In

SPFI has been the subject of several research reports. Hovde Group lifted their target price on South Plains Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $45.00 price objective (down from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.

South Plains Financial Company 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.