South Plains Financial, Inc. $SPFI Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in South Plains Financial by 121.2% during Q1, owning 22,053 shares valued at approximately $730,000.
• South Plains Financial reported $0.86 EPS, exceeding analysts' estimates of $0.77, with a revenue of $54.67 million for the quarter.
• The company announced a dividend increase from $0.15 to $0.16 per share, representing a 1.6% yield and a payout ratio of 20.00%.

Trexquant Investment LP boosted its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 121.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,053 shares of the company's stock after buying an additional 12,085 shares during the period. Trexquant Investment LP owned approximately 0.14% of South Plains Financial worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SPFI. GAMMA Investing LLC increased its position in South Plains Financial by 8,686.1% during the 1st 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. grew its stake in South Plains Financial by 4.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,754 shares of the company's stock valued at $235,000 after purchasing an additional 304 shares during the last quarter. Bailard Inc. purchased a new stake in South Plains Financial during the 1st quarter valued at about $616,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in South Plains Financial by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company's stock valued at $694,000 after purchasing an additional 2,127 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in South Plains Financial by 18.9% during the 4th quarter. Bank of America Corp DE now owns 34,488 shares of the company's stock valued at $1,198,000 after purchasing an additional 5,476 shares during the last quarter. 54.95% of the stock is owned by institutional investors and hedge funds.

South Plains Financial Stock Down 1.3%

Shares of SPFI opened at $40.50 on Monday. South Plains Financial, Inc. has a 52 week low of $30.01 and a 52 week high of $42.38. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $657.72 million, a price-to-earnings ratio of 12.66 and a beta of 0.72. The stock's 50-day moving average price is $38.79 and its 200-day moving average price is $35.71.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $52.24 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, sell-side analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Increases Dividend

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

Analyst Ratings Changes

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

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.

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