EAM Investors LLC Sells 11,628 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

EAM Investors LLC cut its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,812 shares of the company's stock after selling 11,628 shares during the period. EAM Investors LLC owned approximately 0.08% of South Plains Financial worth $480,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of South Plains Financial by 39.3% during the 3rd quarter. FMR LLC now owns 1,397 shares of the company's stock valued at $47,000 after acquiring an additional 394 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of South Plains Financial in the fourth quarter worth approximately $101,000. Public Employees Retirement System of Ohio raised its holdings in shares of South Plains Financial by 20.9% during the third quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company's stock valued at $157,000 after acquiring an additional 800 shares during the period. SG Americas Securities LLC lifted its position 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. Finally, Truist Financial Corp acquired a new position in South Plains Financial in the 4th quarter worth approximately $205,000. 54.95% of the stock is currently owned by institutional investors.

South Plains Financial Stock Up 0.3 %

NASDAQ SPFI traded up $0.10 on Wednesday, reaching $33.04. The stock had a trading volume of 8,546 shares, compared to its average volume of 38,629. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. South Plains Financial, Inc. has a 1 year low of $25.13 and a 1 year high of $40.91. The business has a 50 day moving average price of $33.07 and a 200 day moving average price of $35.03. The company has a market capitalization of $536.44 million, a price-to-earnings ratio of 11.32 and a beta of 0.46.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.67 by $0.29. South Plains Financial had a return on equity of 11.75% and a net margin of 17.20%. During the same period in the previous year, the business posted $0.61 earnings per share. On average, analysts forecast that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, April 28th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, April 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. South Plains Financial's dividend payout ratio is currently 20.55%.

South Plains Financial announced that its Board of Directors has authorized a share buyback program on Tuesday, February 25th that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SPFI has been the topic of a number of research analyst reports. Hovde Group lifted their price target on South Plains Financial from $46.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $45.00 target price (down previously from $46.00) on shares of South Plains Financial in a report on Monday, January 27th.

Insider Activity at South Plains Financial

In related news, Director Noe G. Valles purchased 100,000 shares of South Plains Financial stock in a transaction on Monday, March 10th. The stock was bought at an average price of $33.00 per share, with a total value of $3,300,000.00. Following the completion of the transaction, the director now directly owns 486,437 shares of the company's stock, valued at approximately $16,052,421. This represents a 25.88 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Curtis C. Griffith sold 5,196 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $35.60, for a total value of $184,977.60. Following the transaction, the chief executive officer now directly owns 828,683 shares in the company, valued at approximately $29,501,114.80. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,061 shares of company stock valued at $1,493,613. Insiders own 25.39% of the company's stock.

South Plains Financial Profile

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.