Dynamic Technology Lab Private Ltd Buys Shares of 8,571 South Plains Financial, Inc. (NASDAQ:SPFI)

Dynamic Technology Lab Private Ltd bought a new position in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,571 shares of the company's stock, valued at approximately $298,000. Dynamic Technology Lab Private Ltd owned approximately 0.05% of South Plains Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SPFI. FMR LLC raised its holdings in shares of South Plains Financial by 39.3% in the third quarter. FMR LLC now owns 1,397 shares of the company's stock valued at $47,000 after purchasing an additional 394 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in South Plains Financial in the 4th quarter valued at $101,000. BNP Paribas Financial Markets lifted its position in South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company's stock worth $153,000 after buying an additional 1,891 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of South Plains Financial by 20.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company's stock worth $157,000 after buying an additional 800 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of South Plains Financial by 26.8% in the 4th quarter. SG Americas Securities LLC now owns 5,556 shares of the company's stock valued at $193,000 after acquiring an additional 1,175 shares in the last quarter. 54.95% of the stock is currently owned by institutional investors and hedge funds.

South Plains Financial Stock Performance

Shares of NASDAQ SPFI traded up $0.08 during mid-day trading on Wednesday, reaching $31.87. 1,935 shares of the company were exchanged, compared to its average volume of 38,505. The stock has a market capitalization of $525.33 million, a P/E ratio of 10.99 and a beta of 0.46. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company's 50-day simple moving average is $33.44 and its 200-day simple moving average is $35.04. South Plains Financial, Inc. has a twelve month low of $24.81 and a twelve month high of $40.91.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.29. South Plains Financial had a net margin of 17.20% and a return on equity of 11.75%. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts predict that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 25th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the company to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

South Plains Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.60 annualized dividend and a yield of 1.88%. South Plains Financial's dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling at South Plains Financial

In related news, CEO Curtis C. Griffith sold 5,196 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.60, for a total transaction of $184,977.60. Following the sale, the chief executive officer now owns 828,683 shares of the company's stock, valued at $29,501,114.80. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Noe G. Valles purchased 100,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $33.00 per share, for a total transaction of $3,300,000.00. Following the transaction, the director now directly owns 486,437 shares of the company's stock, valued at $16,052,421. This trade represents a 25.88 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 42,061 shares of company stock valued at $1,493,613 in the last ninety days. 25.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SPFI has been the subject of several recent research reports. Hovde Group increased their price target on South Plains Financial from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $45.00 target price (down from $46.00) on shares of South Plains Financial in a research note on Monday, January 27th.

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.