Polaris Capital Management LLC Decreases Stake in South Plains Financial, Inc. (NASDAQ:SPFI)

Polaris Capital Management LLC lessened its holdings in South Plains Financial, Inc. (NASDAQ:SPFI - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,300 shares of the company's stock after selling 16,900 shares during the quarter. Polaris Capital Management LLC owned about 0.86% of South Plains Financial worth $4,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in South Plains Financial in the 4th quarter worth approximately $282,000. SG Americas Securities LLC increased its holdings in South Plains Financial by 26.8% in the 4th quarter. SG Americas Securities LLC now owns 5,556 shares of the company's stock worth $193,000 after buying an additional 1,175 shares during the period. JPMorgan Chase & Co. increased its holdings in South Plains Financial by 200.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 175,774 shares of the company's stock worth $5,962,000 after buying an additional 117,207 shares during the period. Franklin Resources Inc. acquired a new position in South Plains Financial in the 3rd quarter worth approximately $223,000. Finally, Geode Capital Management LLC increased its holdings in South Plains Financial by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 272,574 shares of the company's stock worth $9,248,000 after buying an additional 6,292 shares during the period. Institutional investors and hedge funds own 54.95% of the company's stock.

South Plains Financial Stock Performance

Shares of NASDAQ SPFI traded down $0.18 during midday trading on Friday, reaching $35.48. 16,464 shares of the stock were exchanged, compared to its average volume of 31,267. The firm has a market cap of $581.44 million, a price-to-earnings ratio of 12.15 and a beta of 0.62. South Plains Financial, Inc. has a twelve month low of $24.05 and a twelve month high of $40.90. The firm has a 50-day simple moving average of $35.74 and a two-hundred day simple moving average of $34.93. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

South Plains Financial (NASDAQ:SPFI - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company posted $0.61 EPS. As a group, analysts anticipate that South Plains Financial, Inc. will post 2.85 EPS for the current fiscal year.

South Plains Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. South Plains Financial's dividend payout ratio is currently 20.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $45.00 price objective (down previously from $46.00) on shares of South Plains Financial in a research note on Monday, January 27th. Hovde Group raised their price objective on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th.

South Plains Financial Company 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.