South Plains Financial (NASDAQ:SPFI) Stock Price Down 3% - Time to Sell?

South Plains Financial, Inc. (NASDAQ:SPFI - Get Free Report) was down 3% on Thursday . The company traded as low as $35.30 and last traded at $35.12. Approximately 22,788 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 38,084 shares. The stock had previously closed at $36.19.

Analysts Set New Price Targets

Separately, Raymond James Financial dropped 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.

South Plains Financial Stock Performance

The company has a market capitalization of $579.74 million, a P/E ratio of 11.91 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.93. The stock's 50 day simple moving average is $35.09 and its two-hundred day simple moving average is $34.55.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last announced 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 17.67% and a return on equity of 11.73%. The company 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 firm posted $0.64 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, April 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend 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%.

Institutional Investors Weigh In On South Plains Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in shares of South Plains Financial during the first quarter worth approximately $520,000. Acadian Asset Management LLC raised its stake in shares of South Plains Financial by 1.9% during the first quarter. Acadian Asset Management LLC now owns 293,144 shares of the company's stock worth $9,704,000 after buying an additional 5,568 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of South Plains Financial during the first quarter worth approximately $315,000. Empowered Funds LLC raised its stake in shares of South Plains Financial by 0.4% during the first quarter. Empowered Funds LLC now owns 89,245 shares of the company's stock worth $2,956,000 after buying an additional 398 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of South Plains Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,066 shares of the company's stock worth $234,000 after buying an additional 312 shares during the last quarter. 54.95% of the stock is owned by institutional investors.

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.