South Plains Financial, Inc. (SPFI) – What Are Researchers Saying About This Stock?

Shares of South Plains Financial, Inc. (NASDAQ:SPFI) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.60.

A number of equities research analysts have weighed in on SPFI shares. Benchmark restated a “buy” rating on shares of South Plains Financial in a report on Monday, July 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of South Plains Financial in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b+)” rating on shares of South Plains Financial in a research report on Friday, September 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $50.00 price target (up from $48.00) on shares of South Plains Financial in a research report on Monday, July 20th.

South Plains Financial Stock Performance

Shares of SPFI stock opened at $42.95 on Friday. South Plains Financial has a 12 month low of $35.34 and a 12 month high of $46.94. The stock has a market cap of $809.18 million, a PE ratio of 11.59 and a beta of 0.49. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $43.86 and its 200-day moving average price is $42.88.

South Plains Financial (NASDAQ:SPFI) last released its earnings results on Friday, July 17th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. South Plains Financial had a net margin of 20.79% and a return on equity of 12.36%. The firm had revenue of $64.49 million for the quarter, compared to the consensus estimate of $63.34 million. On average, equities analysts expect that South Plains Financial will post 3.77 EPS for the current fiscal year.

Insider Buying and Selling

In other South Plains Financial news, Director Richard Campbell sold 132,714 shares of South Plains Financial stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $44.75, for a total transaction of $5,938,951.50. Following the completion of the transaction, the director owned 1,412,255 shares in the company, valued at approximately $63,198,411.25. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Stein sold 100,000 shares of South Plains Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $44.54, for a total value of $4,454,000.00. Following the transaction, the director owned 242,872 shares of the company’s stock, valued at $10,817,518.88. The trade was a 29.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 260,000 shares of company stock valued at $11,624,642. 24.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On South Plains Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in South Plains Financial by 71.2% in the 1st quarter. Royal Bank of Canada now owns 642 shares of the company’s stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Quantinno Capital Management LP grew its position in South Plains Financial by 1.6% during the 1st quarter. Quantinno Capital Management LP now owns 40,403 shares of the company’s stock valued at $1,693,000 after purchasing an additional 623 shares during the last quarter. Renaissance Technologies LLC increased its stake in South Plains Financial by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 76,400 shares of the company’s stock valued at $3,201,000 after purchasing an additional 700 shares in the last quarter. Bank of New York Mellon Corp increased its stake in South Plains Financial by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 55,059 shares of the company’s stock valued at $2,307,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in South Plains Financial during the 2nd quarter valued at about $103,000. 54.95% of the stock is currently owned by institutional investors.

South Plains Financial Company Profile

South Plains Financial, Inc (NASDAQ:SPFI) is a bank holding company headquartered in Lubbock, Texas. Through its principal subsidiary, City Bank, the company provides banking and related financial services to individuals, businesses, agricultural customers and communities in Texas and New Mexico.

City Bank offers a range of products and services, including commercial and consumer lending, real estate loans, agricultural financing, deposit accounts, treasury management, online and mobile banking, mortgage lending, trust and wealth management, and insurance services.