Bailard Inc. Acquires New Holdings in South Plains Financial, Inc. (NASDAQ:SPFI)

Bailard Inc. purchased a new stake in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,600 shares of the company's stock, valued at approximately $616,000. Bailard Inc. owned approximately 0.11% of South Plains Financial at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $235,000 after acquiring an additional 304 shares during the period. Sterling Capital Management LLC raised its position in South Plains Financial by 3.4% in the fourth quarter. Sterling Capital Management LLC now owns 10,360 shares of the company's stock worth $360,000 after acquiring an additional 340 shares during the period. Charles Schwab Investment Management Inc. raised its position in South Plains Financial by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,340 shares of the company's stock worth $1,193,000 after acquiring an additional 991 shares during the period. Wells Fargo & Company MN raised its position in South Plains Financial by 23.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,013 shares of the company's stock worth $278,000 after acquiring an additional 1,506 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in South Plains Financial by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company's stock worth $694,000 after acquiring an additional 2,127 shares during the period. 54.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 price objective (up previously from $38.00) on shares of South Plains Financial in a research report on Thursday.

South Plains Financial Stock Performance

Shares of SPFI traded up $0.40 during trading hours on Friday, hitting $41.00. The company's stock had a trading volume of 79,389 shares, compared to its average volume of 40,037. The company has a market cap of $665.35 million, a price-to-earnings ratio of 12.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.93. The business has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $34.70. South Plains Financial, Inc. has a 52-week low of $29.36 and a 52-week high of $41.00.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last posted its earnings results on Wednesday, July 16th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $54.67 million during the quarter, compared to the consensus estimate of $52.24 million. South Plains Financial had a net margin of 18.59% and a return on equity of 12.36%. During the same quarter last year, the company earned $0.66 earnings per share. On average, equities analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, July 28th will be paid a $0.16 dividend. This is an increase from South Plains Financial's previous quarterly dividend of $0.15. The ex-dividend date is Monday, July 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.56%. South Plains Financial's dividend payout ratio (DPR) is presently 20.00%.

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.