Polaris Capital Management LLC Sells 16,900 Shares of South Plains Financial, Inc. (NASDAQ:SPFI)

Polaris Capital Management LLC trimmed its position in South Plains Financial, Inc. (NASDAQ:SPFI) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,300 shares of the company’s stock after selling 16,900 shares during the period. Polaris Capital Management LLC owned approximately 0.86% of South Plains Financial worth $4,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of South Plains Financial during the 3rd quarter valued at $149,000. Creative Planning purchased a new stake in South Plains Financial in the third quarter valued at about $504,000. US Bancorp DE acquired a new stake in South Plains Financial in the third quarter worth about $36,000. Rosenthal Henry Capital Advisors Inc. grew its stake in shares of South Plains Financial by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company’s stock worth $2,865,000 after acquiring an additional 1,750 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of South Plains Financial by 39.3% during the third 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. 54.95% of the stock is owned by hedge funds and other institutional investors.

South Plains Financial Stock Up 0.3 %

Shares of SPFI opened at $35.97 on Tuesday. The stock’s 50-day moving average price is $35.97 and its 200-day moving average price is $34.87. 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 company has a market capitalization of $589.55 million, a price-to-earnings ratio of 12.32 and a beta of 0.62. South Plains Financial, Inc. has a 52 week low of $24.05 and a 52 week high of $40.90.

South Plains Financial (NASDAQ:SPFI) last posted its earnings results on Friday, January 24th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted $0.61 EPS. On average, sell-side analysts predict that South Plains Financial, Inc. will post 2.85 EPS for the current year.

South Plains Financial Announces Dividend

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 given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, February 3rd. South Plains Financial’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPFI. Hovde Group lifted their target price 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $45.00 price objective (down from $46.00) on shares of South Plains Financial in a report 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.