Polaris Capital Management LLC Has $4.85 Million Holdings in South Plains Financial, Inc. $SPFI

Polaris Capital Management LLC lessened its stake in South Plains Financial, Inc. (NASDAQ:SPFI) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,600 shares of the company’s stock after selling 3,300 shares during the quarter. Polaris Capital Management LLC owned approximately 0.83% of South Plains Financial worth $4,851,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of South Plains Financial by 18.9% in the 4th quarter. Bank of America Corp DE now owns 34,488 shares of the company’s stock valued at $1,198,000 after buying an additional 5,476 shares during the last quarter. GAMMA Investing LLC lifted its holdings in South Plains Financial by 8,686.1% during the 1st quarter. GAMMA Investing LLC now owns 6,326 shares of the company’s stock valued at $191,000 after purchasing an additional 6,254 shares during the last quarter. Invesco Ltd. lifted its holdings in South Plains Financial by 352.5% during the 1st quarter. Invesco Ltd. now owns 92,768 shares of the company’s stock valued at $3,072,000 after purchasing an additional 72,269 shares during the last quarter. Vanguard Group Inc. lifted its holdings in South Plains Financial by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 678,579 shares of the company’s stock valued at $22,475,000 after purchasing an additional 15,942 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in South Plains Financial by 11.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,976 shares of the company’s stock valued at $694,000 after purchasing an additional 2,127 shares during the last quarter. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Stock Up 1.5%

SPFI stock opened at $38.87 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $631.25 million, a price-to-earnings ratio of 12.15 and a beta of 0.65. The business’s fifty day moving average price is $39.22 and its two-hundred day moving average price is $36.48. South Plains Financial, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $42.38.

South Plains Financial (NASDAQ:SPFI) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. The firm had revenue of $54.67 million for the quarter, compared to analysts’ expectations of $52.24 million. South Plains Financial had a return on equity of 12.27% and a net margin of 18.59%.During the same quarter last year, the business earned $0.66 EPS. On average, equities analysts anticipate that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, July 28th were given a $0.16 dividend. The ex-dividend date was Monday, July 28th. This is an increase from South Plains Financial’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. South Plains Financial’s dividend payout ratio (DPR) is 20.00%.

Insider Activity at South Plains Financial

In related news, Director Richard D. Campbell sold 44,417 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $40.21, for a total value of $1,786,007.57. Following the transaction, the director owned 1,544,969 shares in the company, valued at approximately $62,123,203.49. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.58% of the company’s stock.

Wall Street Analyst Weigh In

SPFI has been the subject of several research reports. Zacks Research downgraded South Plains Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price target (up previously from $38.00) on shares of South Plains Financial in a report on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of South Plains Financial in a report on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, South Plains Financial has an average rating of “Moderate Buy” and a consensus price target of $44.67.

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.