Renaissance Technologies LLC Has $341,000 Stock Holdings in South Plains Financial, Inc. (NASDAQ:SPFI)

Renaissance Technologies LLC trimmed its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 53.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,800 shares of the company's stock after selling 11,100 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of South Plains Financial worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of South Plains Financial by 15.3% in the 4th quarter. Invesco Ltd. now owns 20,499 shares of the company's stock valued at $712,000 after purchasing an additional 2,724 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in South Plains Financial in the 4th quarter worth approximately $298,000. Wells Fargo & Company MN boosted its stake in shares of South Plains Financial by 23.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,013 shares of the company's stock valued at $278,000 after buying an additional 1,506 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of South Plains Financial during the 4th quarter valued at $101,000. 54.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SPFI shares. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $45.00 price objective (down previously from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th. Raymond James reduced their target price on shares of South Plains Financial from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Hovde Group increased their price target on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th.

South Plains Financial Stock Up 1.3 %

Shares of South Plains Financial stock opened at $34.17 on Monday. South Plains Financial, Inc. has a 12-month low of $25.13 and a 12-month high of $40.91. The stock has a market capitalization of $554.78 million, a P/E ratio of 11.70 and a beta of 0.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $32.90 and a two-hundred day moving average price of $35.03.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its earnings results 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. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. The firm had revenue of $49.15 million during the quarter, compared to analyst estimates of $48.93 million. During the same quarter in the previous year, the business earned $0.64 EPS. Equities analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, April 28th. South Plains Financial's dividend payout ratio (DPR) is currently 20.00%.

South Plains Financial announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 25th that permits the company to buyback $15.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Curtis C. Griffith sold 15,422 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $35.69, for a total transaction of $550,411.18. Following the transaction, the chief executive officer now owns 854,818 shares of the company's stock, valued at approximately $30,508,454.42. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Noe G. Valles bought 100,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $33.00 per share, with a total value of $3,300,000.00. Following the completion of the purchase, the director now owns 486,437 shares in the company, valued at approximately $16,052,421. The trade was a 25.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 42,061 shares of company stock valued at $1,493,613 in the last three months. Company insiders own 25.39% of the company's stock.

South Plains Financial Company 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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