Martingale Asset Management L P Purchases 6,535 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

Martingale Asset Management L P raised its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 19.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 40,074 shares of the company’s stock after buying an additional 6,535 shares during the quarter. Martingale Asset Management L P’s holdings in South Plains Financial were worth $1,359,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE bought a new stake in South Plains Financial in the 3rd quarter valued at approximately $36,000. FMR LLC lifted its stake in South Plains Financial by 39.3% in 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 in the last quarter. SG Americas Securities LLC bought a new stake in South Plains Financial in the 3rd quarter valued at approximately $149,000. BNP Paribas Financial Markets lifted its stake in South Plains Financial by 72.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Creative Planning bought a new stake in South Plains Financial in the 3rd quarter valued at approximately $504,000. Institutional investors own 54.95% of the company’s stock.

South Plains Financial Stock Up 0.1 %

NASDAQ:SPFI opened at $38.89 on Monday. The firm has a market capitalization of $637.41 million, a price-to-earnings ratio of 15.13 and a beta of 0.58. South Plains Financial, Inc. has a twelve month low of $24.05 and a twelve month high of $40.90. The stock’s 50 day moving average price is $35.55 and its two-hundred day moving average price is $31.91. 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) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $72.28 million for the quarter, compared to analyst estimates of $48.90 million. South Plains Financial had a return on equity of 10.39% and a net margin of 15.51%. During the same quarter in the previous year, the firm earned $0.78 EPS. Equities research analysts expect that South Plains Financial, Inc. will post 2.62 earnings per share for the current fiscal year.

South Plains Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, October 28th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, October 28th. This is a positive change from South Plains Financial’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.54%. South Plains Financial’s payout ratio is presently 23.35%.

Insider Buying and Selling

In related news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the transaction, the chief executive officer now directly owns 865,967 shares of the company’s stock, valued at approximately $29,009,894.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.39% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Hovde Group boosted their price target on South Plains Financial from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report 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.