South Plains Financial, Inc. (NASDAQ:SPFI) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,077 shares of the company's stock after purchasing an additional 21,444 shares during the period. Dimensional Fund Advisors LP owned about 2.60% of South Plains Financial worth $14,806,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in South Plains Financial in the fourth quarter worth $101,000. SG Americas Securities LLC grew its holdings in shares of South Plains Financial by 26.8% during the fourth quarter. SG Americas Securities LLC now owns 5,556 shares of the company's stock worth $193,000 after buying an additional 1,175 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of South Plains Financial in the fourth quarter valued at about $205,000. Summit Global Investments bought a new stake in South Plains Financial during the fourth quarter worth $249,000. Finally, Wells Fargo & Company MN boosted its holdings 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 worth $278,000 after buying an additional 1,506 shares during the period. 54.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other South Plains Financial news, Director Noe G. Valles purchased 100,000 shares of South Plains Financial stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $33.00 per share, with a total value of $3,300,000.00. Following the transaction, the director now owns 486,437 shares of the company's stock, valued at $16,052,421. This represents a 25.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Curtis C. Griffith sold 21,443 shares of South Plains Financial stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $35.36, for a total transaction of $758,224.48. Following the completion of the transaction, the chief executive officer now directly owns 807,240 shares of the company's stock, valued at $28,544,006.40. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. 25.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPFI shares. Raymond James reduced their target price on South Plains Financial from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Hovde Group increased their target price on shares of South Plains Financial from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, 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.

South Plains Financial Trading Up 0.1%

Shares of SPFI traded up $0.03 during trading hours on Wednesday, reaching $35.72. 2,504 shares of the company traded hands, compared to its average volume of 38,625. South Plains Financial, Inc. has a 12 month low of $25.13 and a 12 month high of $40.91. The company has a market capitalization of $579.58 million, a price-to-earnings ratio of 12.18 and a beta of 0.70. The company's fifty day moving average price is $32.91 and its two-hundred day moving average price is $35.04. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. South Plains Financial had a return on equity of 11.75% and a net margin of 17.20%. The business had revenue of $49.15 million during the quarter, compared to the consensus estimate of $48.93 million. During the same period in the previous year, the company posted $0.64 EPS. Equities research analysts predict that South Plains Financial, Inc. will post 2.85 earnings per share for the current fiscal year.

South Plains Financial announced that its board has authorized a stock buyback plan on Tuesday, February 25th that authorizes the company to repurchase $15.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

South Plains Financial Dividend Announcement

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

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.