South Plains Financial, Inc. (NASDAQ:SPFI) Receives $44.25 Consensus Target Price from Analysts

South Plains Financial, Inc. (NASDAQ:SPFI) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $44.75.

SPFI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of South Plains Financial in a research note on Monday, December 22nd. Keefe, Bruyette & Woods raised their price target on shares of South Plains Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Raymond James Financial lifted their price target on shares of South Plains Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research lowered shares of South Plains Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Hovde Group raised their target price on South Plains Financial from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, October 24th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in South Plains Financial by 31.4% during the 4th quarter. SG Americas Securities LLC now owns 5,027 shares of the company’s stock worth $195,000 after acquiring an additional 1,202 shares in the last quarter. JPMorgan Chase & Co. grew its stake in South Plains Financial by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 380,987 shares of the company’s stock worth $14,725,000 after purchasing an additional 34,420 shares in the last quarter. PharVision Advisers LLC bought a new stake in South Plains Financial in the third quarter valued at about $361,000. Polymer Capital Management US LLC raised its stake in South Plains Financial by 24.4% during the third quarter. Polymer Capital Management US LLC now owns 7,356 shares of the company’s stock valued at $284,000 after buying an additional 1,445 shares in the last quarter. Finally, Quarry LP bought a new position in South Plains Financial during the 3rd quarter worth approximately $60,000. 54.95% of the stock is currently owned by institutional investors.

South Plains Financial Trading Down 1.1%

Shares of SPFI opened at $39.24 on Wednesday. South Plains Financial has a 12 month low of $30.01 and a 12 month high of $42.38. The stock’s 50-day moving average is $38.65 and its two-hundred day moving average is $38.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $637.65 million, a PE ratio of 11.21 and a beta of 0.60.

South Plains Financial (NASDAQ:SPFI) last announced its earnings results on Thursday, October 23rd. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The business had revenue of $54.18 million for the quarter, compared to the consensus estimate of $54.07 million. South Plains Financial had a return on equity of 13.16% and a net margin of 20.09%. Equities analysts forecast that South Plains Financial will post 2.85 earnings per share for the current fiscal year.

South Plains Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, October 27th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, October 27th. South Plains Financial’s dividend payout ratio (DPR) is 18.29%.

About South Plains Financial

South Plains Financial, Inc is the bank holding company for South Plains Bank, a community-oriented financial institution headquartered in Lubbock, Texas. The company operates as a full-service commercial bank, providing a broad spectrum of banking solutions to individuals, small businesses and agricultural clients. Its principal subsidiary, South Plains Bank, holds state and national banking charters and is subject to regulatory oversight by the Federal Reserve and various state banking authorities.

The company’s product offerings include traditional deposit accounts such as checking, savings and money market accounts, as well as time deposits.