American Century Companies Inc. Has $9.17 Million Stake in South Plains Financial, Inc. $SPFI

Key Points

• American Century Companies Inc. increased its stake in South Plains Financial by 11.5%, acquiring an additional 28,467 shares to reach a total of 276,923 shares worth approximately $9.17 million.
• Analysts have a positive outlook on South Plains Financial, with Raymond James restating an "outperform" rating and raising the price target to $42.00, while the average target price stands at $44.67.
• South Plains Financial recently announced an increase in its quarterly dividend to $0.16 per share from the previous $0.15, representing an annualized dividend yield of 1.6%.

American Century Companies Inc. lifted its holdings in South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,923 shares of the company's stock after acquiring an additional 28,467 shares during the quarter. American Century Companies Inc. owned approximately 1.71% of South Plains Financial worth $9,172,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in South Plains Financial by 8,686.1% in the 1st quarter. GAMMA Investing LLC now owns 6,326 shares of the company's stock valued at $191,000 after purchasing an additional 6,254 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of South Plains Financial by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,754 shares of the company's stock valued at $235,000 after buying an additional 304 shares in the last quarter. PDT Partners LLC bought a new position in shares of South Plains Financial in the fourth quarter valued at about $274,000. South Plains Financial Inc. bought a new position in shares of South Plains Financial in the fourth quarter valued at about $276,000. Finally, Wells Fargo & Company MN lifted its position in South Plains Financial by 23.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,013 shares of the company's stock worth $278,000 after buying an additional 1,506 shares in the last quarter. 54.95% of the stock is currently owned by institutional investors.

South Plains Financial Trading Up 0.0%

Shares of SPFI stock traded up $0.02 during trading hours on Friday, reaching $40.63. The company had a trading volume of 27,794 shares, compared to its average volume of 54,260. South Plains Financial, Inc. has a 1-year low of $30.01 and a 1-year high of $42.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market cap of $659.83 million, a price-to-earnings ratio of 12.69 and a beta of 0.72. The company has a 50 day moving average of $38.31 and a 200 day moving average of $35.52.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.The firm had revenue of $54.67 million for the quarter, compared to analyst estimates of $52.24 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts anticipate that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, July 28th. This is a positive change from South Plains Financial's previous quarterly dividend of $0.15. South Plains Financial's payout ratio is 20.00%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 target price (up from $38.00) on shares of South Plains Financial in a research note on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $44.67.

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.