Trexquant Investment LP boosted its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 121.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,053 shares of the company's stock after purchasing an additional 12,085 shares during the quarter. Trexquant Investment LP owned about 0.14% of South Plains Financial worth $730,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Martingale Asset Management L P raised its stake in South Plains Financial by 1.7% during the first quarter. Martingale Asset Management L P now owns 46,997 shares of the company's stock valued at $1,557,000 after purchasing an additional 763 shares in the last quarter. American Century Companies Inc. raised its stake in South Plains Financial by 11.5% during the first quarter. American Century Companies Inc. now owns 276,923 shares of the company's stock valued at $9,172,000 after purchasing an additional 28,467 shares in the last quarter. Russell Investments Group Ltd. raised its stake in South Plains Financial by 7.2% during the first quarter. Russell Investments Group Ltd. now owns 83,196 shares of the company's stock valued at $2,755,000 after purchasing an additional 5,617 shares in the last quarter. Nuveen LLC purchased a new stake in South Plains Financial during the first quarter valued at $1,809,000. Finally, Invesco Ltd. raised its stake in South Plains Financial by 352.5% during the first quarter. Invesco Ltd. now owns 92,768 shares of the company's stock valued at $3,072,000 after purchasing an additional 72,269 shares in the last quarter. Hedge funds and other institutional investors own 54.95% of the company's stock.
South Plains Financial Trading Down 0.7%
SPFI stock traded down $0.30 during mid-day trading on Friday, reaching $39.80. 48,687 shares of the stock traded hands, compared to its average volume of 45,058. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 0.94. South Plains Financial, Inc. has a one year low of $30.01 and a one year high of $42.38. The stock has a market capitalization of $646.35 million, a PE ratio of 12.44 and a beta of 0.72. The business has a 50-day moving average price of $39.09 and a two-hundred day moving average price of $35.90.
South Plains Financial (NASDAQ:SPFI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. South Plains Financial had a net margin of 18.59% and a return on equity of 12.27%. The business had revenue of $54.67 million for the quarter, compared to analysts' expectations of $52.24 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities research analysts expect that South Plains Financial, Inc. will post 2.85 EPS for the current year.
South Plains Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, July 28th were issued a $0.16 dividend. The ex-dividend date was Monday, July 28th. This is a boost from South Plains Financial's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. South Plains Financial's dividend payout ratio (DPR) is currently 20.00%.
Analyst Ratings Changes
Separately, Raymond James Financial reiterated an "outperform" rating and set a $42.00 price objective (up previously from $38.00) on shares of South Plains Financial in a research report on Thursday, July 17th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $44.67.
Get Our Latest Stock Analysis on South Plains Financial
South Plains Financial Profile
(
Free Report)
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.
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