JPMorgan Chase & Co. Increases Position in South Plains Financial, Inc. (NASDAQ:SPFI)

JPMorgan Chase & Co. lifted its holdings in shares of South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 200.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,774 shares of the company's stock after purchasing an additional 117,207 shares during the quarter. JPMorgan Chase & Co. owned about 1.07% of South Plains Financial worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPFI. FMR LLC boosted its stake in South Plains Financial by 39.3% during the third quarter. FMR LLC now owns 1,397 shares of the company's stock worth $47,000 after buying an additional 394 shares during the period. Public Employees Retirement System of Ohio boosted its position 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 purchasing an additional 800 shares during the period. US Bancorp DE acquired a new stake in South Plains Financial in the 3rd quarter valued at approximately $36,000. Rosenthal Henry Capital Advisors Inc. raised its position in South Plains Financial by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company's stock valued at $2,865,000 after purchasing an additional 1,750 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in South Plains Financial by 72.4% during the third quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company's stock worth $153,000 after purchasing an additional 1,891 shares in the last quarter. 54.95% of the stock is owned by institutional investors and hedge funds.

South Plains Financial Stock Up 1.0 %

Shares of NASDAQ SPFI traded up $0.33 during midday trading on Friday, hitting $35.00. The company's stock had a trading volume of 26,863 shares, compared to its average volume of 34,178. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $573.65 million, a price-to-earnings ratio of 13.62 and a beta of 0.62. The business's fifty day simple moving average is $36.89 and its two-hundred day simple moving average is $34.14. South Plains Financial, Inc. has a 1 year low of $24.05 and a 1 year high of $40.90.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. South Plains Financial had a net margin of 15.51% and a return on equity of 10.39%. The company had revenue of $72.28 million during the quarter, compared to analysts' expectations of $48.90 million. During the same quarter last year, the company posted $0.78 EPS. On average, equities analysts predict that South Plains Financial, Inc. will post 2.62 EPS for the current year.

Insider Activity at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total value of $1,675,000.00. Following the sale, the chief executive officer now owns 865,967 shares of the company's stock, valued at $29,009,894.50. This trade represents a 5.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Hovde Group lifted their price objective on South Plains Financial from $36.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, October 25th.

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.