Barclays PLC Acquires 12,200 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

Barclays PLC grew its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,367 shares of the company’s stock after purchasing an additional 12,200 shares during the period. Barclays PLC’s holdings in South Plains Financial were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of South Plains Financial by 20.9% in the third quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock valued at $157,000 after acquiring an additional 800 shares during the last quarter. State Street Corp lifted its holdings in South Plains Financial by 4.7% in the third quarter. State Street Corp now owns 274,701 shares of the company’s stock valued at $9,318,000 after buying an additional 12,271 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in South Plains Financial by 77.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 47,659 shares of the company’s stock valued at $1,617,000 after buying an additional 20,756 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in South Plains Financial during the 3rd quarter worth approximately $2,882,000. Finally, Martingale Asset Management L P grew its holdings in South Plains Financial by 19.5% during the third quarter. Martingale Asset Management L P now owns 40,074 shares of the company’s stock valued at $1,359,000 after purchasing an additional 6,535 shares during the period. 54.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Hovde Group boosted their target price on South Plains Financial from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, October 25th.

South Plains Financial Trading Down 2.7 %

SPFI opened at $35.02 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $573.98 million, a P/E ratio of 13.63 and a beta of 0.60. South Plains Financial, Inc. has a 12 month low of $24.05 and a 12 month high of $40.90. The firm’s fifty day simple moving average is $37.17 and its 200 day simple moving average is $33.32.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $72.28 million for the quarter, compared to analyst estimates of $48.90 million. South Plains Financial had a net margin of 15.51% and a return on equity of 10.39%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, research analysts anticipate that South Plains Financial, Inc. will post 2.62 EPS for the current fiscal year.

South Plains Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, October 28th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.71%. South Plains Financial’s dividend payout ratio is 23.35%.

Insider Buying and Selling

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total value of $1,675,000.00. Following the transaction, the chief executive officer now directly owns 865,967 shares in the company, valued at $29,009,894.50. The trade was a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 25.39% of the stock is owned by corporate insiders.

About South Plains Financial

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.