South Plains Financial (NASDAQ:SPFI) Hits New 52-Week High at $29.62

South Plains Financial, Inc. (NASDAQ:SPFI) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $29.62 and last traded at $29.45, with a volume of 17055 shares trading hands. The stock had previously closed at $29.35.

SPFI has been the subject of a number of recent analyst reports. TheStreet raised shares of South Plains Financial from a “c” rating to a “b-” rating in a research note on Tuesday, October 12th. Zacks Investment Research lowered shares of South Plains Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 28th.

The stock’s 50 day moving average is $26.97 and its two-hundred day moving average is $24.80. The company has a market capitalization of $523.89 million, a PE ratio of 8.98 and a beta of 0.66. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 0.31.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Tuesday, October 26th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.10. The business had revenue of $56.97 million during the quarter, compared to the consensus estimate of $53.30 million. South Plains Financial had a net margin of 25.49% and a return on equity of 15.61%. During the same period in the previous year, the company posted $0.92 earnings per share. On average, sell-side analysts predict that South Plains Financial, Inc. will post 3.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 16th. Shareholders of record on Monday, November 1st were issued a $0.09 dividend. The ex-dividend date was Friday, October 29th. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. South Plains Financial’s dividend payout ratio is presently 11.08%.

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of South Plains Financial by 74.9% during the second quarter. Dimensional Fund Advisors LP now owns 22,044 shares of the company’s stock valued at $510,000 after acquiring an additional 9,443 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of South Plains Financial by 0.4% during the second quarter. Vanguard Group Inc. now owns 495,806 shares of the company’s stock valued at $11,467,000 after acquiring an additional 2,131 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of South Plains Financial by 11.1% during the second quarter. Geode Capital Management LLC now owns 159,489 shares of the company’s stock valued at $3,688,000 after acquiring an additional 15,948 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of South Plains Financial by 25.5% during the second quarter. Nuveen Asset Management LLC now owns 43,013 shares of the company’s stock valued at $995,000 after acquiring an additional 8,748 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of South Plains Financial by 31.5% during the second quarter. Millennium Management LLC now owns 53,937 shares of the company’s stock valued at $1,248,000 after acquiring an additional 12,928 shares in the last quarter. Institutional investors and hedge funds own 22.63% of the company’s stock.

South Plains Financial Company Profile (NASDAQ:SPFI)

South Plains Financial, Inc is a bank holding company, which engages in the provision of commercial and retail banking services through its subsidiary, City Bank. The firm also offers insurance, investment, trust and mortgage services though its other non-bank subsidiaries. It operates through the Banking and Insurance business segments.

Further Reading: Arbitrage

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