South Plains Financial (NASDAQ:SPFI - Get Free Report) had its target price boosted by analysts at Hovde Group from $45.00 to $48.00 in a research note issued on Friday. The firm presently has an "outperform" rating on the stock. Hovde Group's price target points to a potential upside of 25.82% from the stock's current price.
Other research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of South Plains Financial in a research report on Wednesday, October 8th. Zacks Research cut shares of South Plains Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Finally, 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.00.
Read Our Latest Analysis on South Plains Financial
South Plains Financial Trading Down 0.4%
NASDAQ SPFI opened at $38.15 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.93. The firm's fifty day moving average price is $39.32 and its 200 day moving average price is $36.98. The company has a market capitalization of $619.56 million, a price-to-earnings ratio of 11.92 and a beta of 0.65. South Plains Financial has a 12 month low of $30.01 and a 12 month high of $42.38.
South Plains Financial (NASDAQ:SPFI - Get Free Report) last posted its earnings results on Thursday, October 23rd. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.09. The firm had revenue of $54.18 million for the quarter, compared to the consensus estimate of $54.07 million. South Plains Financial had a net margin of 18.59% and a return on equity of 12.27%. On average, sell-side analysts expect that South Plains Financial will post 2.85 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Richard D. Campbell sold 15,583 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $39.62, for a total transaction of $617,398.46. Following the completion of the sale, the director owned 1,529,386 shares in the company, valued at $60,594,273.32. This represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.58% of the stock is currently owned by corporate insiders.
Institutional Trading of South Plains Financial
Several hedge funds have recently made changes to their positions in SPFI. Bailard Inc. acquired a new stake in shares of South Plains Financial in the 1st quarter worth $616,000. Vanguard Group Inc. lifted its stake in shares of South Plains Financial by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 678,579 shares of the company's stock worth $22,475,000 after acquiring an additional 15,942 shares during the period. Invesco Ltd. lifted its stake in shares of South Plains Financial by 352.5% in the 1st quarter. Invesco Ltd. now owns 92,768 shares of the company's stock worth $3,072,000 after acquiring an additional 72,269 shares during the period. Nuveen LLC acquired a new stake in shares of South Plains Financial in the 1st quarter worth $1,809,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of South Plains Financial by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 83,196 shares of the company's stock worth $2,755,000 after acquiring an additional 5,617 shares during the period. Institutional investors and hedge funds own 54.95% of the company's stock.
About South Plains Financial
(
Get 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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