Two Sigma Advisers LP Purchases 12,700 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

Two Sigma Advisers LP grew its stake in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,700 shares of the company's stock after purchasing an additional 12,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.26% of South Plains Financial worth $1,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in South Plains Financial by 40.8% during the 4th quarter. JPMorgan Chase & Co. now owns 247,430 shares of the company's stock valued at $8,598,000 after buying an additional 71,656 shares during the period. American Century Companies Inc. boosted its holdings in shares of South Plains Financial by 16.5% during the fourth quarter. American Century Companies Inc. now owns 248,456 shares of the company's stock worth $8,634,000 after purchasing an additional 35,207 shares during the period. Millennium Management LLC grew its stake in shares of South Plains Financial by 51.3% in the fourth quarter. Millennium Management LLC now owns 94,332 shares of the company's stock worth $3,278,000 after purchasing an additional 31,983 shares during the last quarter. Quantinno Capital Management LP increased its holdings in South Plains Financial by 148.8% during the 4th quarter. Quantinno Capital Management LP now owns 44,741 shares of the company's stock valued at $1,555,000 after purchasing an additional 26,757 shares during the period. Finally, Nuveen Asset Management LLC raised its position in South Plains Financial by 51.0% during the 4th quarter. Nuveen Asset Management LLC now owns 65,204 shares of the company's stock valued at $2,266,000 after purchasing an additional 22,010 shares during the last quarter. Institutional investors own 54.95% of the company's stock.

Insiders Place Their Bets

In other South Plains Financial news, Director Noe G. Valles purchased 100,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $33.00 per share, for a total transaction of $3,300,000.00. Following the completion of the purchase, the director now directly owns 486,437 shares of the company's stock, valued at $16,052,421. This trade represents a 25.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 24.58% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James cut their price objective on South Plains Financial from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.

South Plains Financial Stock Up 1.0%

South Plains Financial stock traded up $0.35 during trading hours on Tuesday, hitting $35.82. 7,114 shares of the stock traded hands, compared to its average volume of 37,475. South Plains Financial, Inc. has a one year low of $25.13 and a one year high of $40.91. The firm's 50-day moving average price is $33.66 and its two-hundred day moving average price is $34.92. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market cap of $581.29 million, a PE ratio of 12.27 and a beta of 0.70.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. The business had revenue of $49.15 million for the quarter, compared to analysts' expectations of $48.93 million. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, research analysts forecast that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 25th that authorizes the company to buyback $15.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

South Plains Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, April 28th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, April 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.68%. South Plains Financial's dividend payout ratio is currently 20.00%.

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.