Teacher Retirement System of Texas Has $333,000 Stake in South Plains Financial, Inc. (NASDAQ:SPFI)

Teacher Retirement System of Texas lessened its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 37.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,042 shares of the company's stock after selling 6,099 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of South Plains Financial worth $333,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of South Plains Financial during the fourth quarter worth approximately $101,000. GAMMA Investing LLC boosted its stake in shares of South Plains Financial by 8,686.1% in the first quarter. GAMMA Investing LLC now owns 6,326 shares of the company's stock valued at $191,000 after buying an additional 6,254 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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. Summit Global Investments purchased a new stake in shares of South Plains Financial in the fourth quarter valued at approximately $249,000. Finally, PDT Partners LLC purchased a new stake in shares of South Plains Financial in the fourth quarter valued at approximately $274,000. 54.95% of the stock is owned by institutional investors and hedge funds.

South Plains Financial Stock Down 1.2%

Shares of SPFI stock traded down $0.51 on Tuesday, hitting $41.17. The company's stock had a trading volume of 97,393 shares, compared to its average volume of 40,249. South Plains Financial, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $42.68. The firm's fifty day moving average price is $36.28 and its 200-day moving average price is $34.70. 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 stock has a market capitalization of $668.11 million, a price-to-earnings ratio of 12.87 and a beta of 0.68.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $54.67 million for the quarter, compared to analyst estimates of $52.24 million. South Plains Financial had a return on equity of 12.36% and a net margin of 18.59%. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Research analysts anticipate that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, July 28th will be paid a $0.16 dividend. This is a positive change from South Plains Financial's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.55%. The ex-dividend date is Monday, July 28th. South Plains Financial's payout ratio is presently 20.00%.

Analysts Set New Price Targets

Separately, Raymond James Financial reissued an "outperform" rating and set a $42.00 price objective (up from $38.00) on shares of South Plains Financial in a research note on Thursday, July 17th.

South Plains Financial 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.