Teacher Retirement System of Texas Reduces Stock Holdings in South Plains Financial, Inc. (NASDAQ:SPFI)

Teacher Retirement System of Texas lessened its holdings in South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of South Plains Financial by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,340 shares of the company's stock valued at $1,193,000 after buying an additional 991 shares in the last quarter. Summit Global Investments purchased a new position in shares of South Plains Financial during the 4th quarter valued at approximately $249,000. American Century Companies Inc. lifted its position in shares of South Plains Financial by 16.5% during the 4th quarter. American Century Companies Inc. now owns 248,456 shares of the company's stock valued at $8,634,000 after buying an additional 35,207 shares in the last quarter. Sei Investments Co. lifted its position in shares of South Plains Financial by 8.9% during the 4th quarter. Sei Investments Co. now owns 28,215 shares of the company's stock valued at $980,000 after buying an additional 2,311 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of South Plains Financial during the 4th quarter valued at approximately $101,000. Institutional investors and hedge funds own 54.95% of the company's stock.

South Plains Financial Stock Performance

Shares of NASDAQ SPFI traded up $0.40 during mid-day trading on Friday, hitting $41.00. 79,389 shares of the company were exchanged, compared to its average volume of 40,037. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $36.28 and a 200-day simple moving average of $34.70. South Plains Financial, Inc. has a 1-year low of $29.36 and a 1-year high of $41.00. The firm has a market cap of $665.35 million, a price-to-earnings ratio of 12.81 and a beta of 0.68.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The company reported $0.86 earnings per share (EPS) 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 analysts' expectations 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 business posted $0.66 earnings per share. On average, sell-side analysts forecast that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Increases Dividend

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

Wall Street Analyst Weigh In

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 report on Thursday.

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.