Empowered Funds LLC Lowers Stock Holdings in South Plains Financial, Inc. (NASDAQ:SPFI)

Empowered Funds LLC reduced its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,847 shares of the company’s stock after selling 3,550 shares during the quarter. Empowered Funds LLC owned about 0.54% of South Plains Financial worth $3,087,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in South Plains Financial in the 4th quarter valued at $282,000. SG Americas Securities LLC raised its position in shares of South Plains Financial by 26.8% in the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its position in shares of South Plains Financial by 200.1% in the third 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 in the last quarter. Franklin Resources Inc. bought a new stake in South Plains Financial during the third quarter valued at $223,000. Finally, Geode Capital Management LLC grew its position in South Plains Financial by 2.4% during the third 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 in the last quarter. Hedge funds and other institutional investors own 54.95% of the company’s stock.

South Plains Financial Stock Up 0.6 %

SPFI opened at $35.65 on Friday. The business’s fifty day simple moving average is $35.80 and its 200 day simple moving average is $34.92. South Plains Financial, Inc. has a 52 week low of $24.05 and a 52 week high of $40.90. 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 stock has a market cap of $584.30 million, a PE ratio of 12.21 and a beta of 0.62.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings data 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 quarter last year, the firm posted $0.61 EPS. As a group, research analysts expect that South Plains Financial, Inc. 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 will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a $0.15 dividend. The ex-dividend date is Monday, February 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.68%. South Plains Financial’s payout ratio is 20.55%.

Analysts Set New Price Targets

Several research firms have weighed in on SPFI. Hovde Group raised 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 reaffirmed 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.

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.