South Plains Financial, Inc. (NASDAQ:SPFI) Shares Purchased by Salzhauer Michael

Salzhauer Michael boosted its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI) by 87.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,708 shares of the company’s stock after acquiring an additional 8,708 shares during the period. Salzhauer Michael owned 0.11% of South Plains Financial worth $505,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of South Plains Financial by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 364,341 shares of the company’s stock valued at $9,837,000 after purchasing an additional 30,665 shares in the last quarter. Acadian Asset Management LLC grew its holdings in South Plains Financial by 14.3% in the 2nd quarter. Acadian Asset Management LLC now owns 239,078 shares of the company’s stock valued at $6,451,000 after buying an additional 29,933 shares in the last quarter. American Century Companies Inc. increased its stake in shares of South Plains Financial by 14.9% in the 2nd quarter. American Century Companies Inc. now owns 175,013 shares of the company’s stock worth $4,725,000 after acquiring an additional 22,695 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of South Plains Financial by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 541,732 shares of the company’s stock worth $14,497,000 after acquiring an additional 12,196 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of South Plains Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 95,172 shares of the company’s stock valued at $2,547,000 after acquiring an additional 7,175 shares during the last quarter. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Stock Performance

NASDAQ SPFI opened at $32.99 on Monday. The stock has a fifty day simple moving average of $31.99 and a 200-day simple moving average of $28.30. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The stock has a market cap of $540.71 million, a PE ratio of 8.82 and a beta of 0.59. South Plains Financial, Inc. has a twelve month low of $24.05 and a twelve month high of $34.93.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings results on Thursday, July 18th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The business had revenue of $71.92 million during the quarter, compared to analysts’ expectations of $46.50 million. South Plains Financial had a net margin of 16.53% and a return on equity of 11.42%. During the same period last year, the business earned $0.55 earnings per share. Equities analysts anticipate that South Plains Financial, Inc. will post 2.52 earnings per share for the current year.

South Plains Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 29th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.70%. The ex-dividend date was Monday, July 29th. South Plains Financial’s payout ratio is 14.97%.

Insider Activity at South Plains Financial

In other South Plains Financial news, Director Noe G. Valles acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $1,500,000.00. Following the completion of the acquisition, the director now owns 336,437 shares of the company’s stock, valued at approximately $10,093,110. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other South Plains Financial news, CEO Curtis C. Griffith sold 1,599 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $31.00, for a total transaction of $49,569.00. Following the completion of the transaction, the chief executive officer now owns 996,898 shares in the company, valued at approximately $30,903,838. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Noe G. Valles bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $1,500,000.00. Following the acquisition, the director now directly owns 336,437 shares of the company’s stock, valued at $10,093,110. The disclosure for this purchase can be found here. 25.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of South Plains Financial from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Hovde Group raised their price target on shares of South Plains Financial from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, July 19th.

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.