South Plains Financial, Inc. (NASDAQ:SPFI) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC trimmed its holdings in South Plains Financial, Inc. (NASDAQ:SPFI) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,097 shares of the company’s stock after selling 3,453 shares during the period. Venturi Wealth Management LLC owned 0.46% of South Plains Financial worth $2,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPFI. JPMorgan Chase & Co. raised 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 valued at $5,962,000 after acquiring an additional 117,207 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of South Plains Financial in the third quarter valued at approximately $2,882,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of South Plains Financial by 77.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 47,659 shares of the company’s stock valued at $1,617,000 after purchasing an additional 20,756 shares during the last quarter. Creative Planning purchased a new position in South Plains Financial during the third quarter worth approximately $504,000. Finally, State Street Corp boosted its stake in South Plains Financial by 4.7% during the third quarter. State Street Corp now owns 274,701 shares of the company’s stock worth $9,318,000 after buying an additional 12,271 shares during the last quarter. 54.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at South Plains Financial

In other South Plains Financial news, CEO Curtis C. Griffith sold 5,196 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $35.60, for a total value of $184,977.60. Following the sale, the chief executive officer now owns 828,683 shares of the company’s stock, valued at $29,501,114.80. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Hovde Group raised their target price on 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 restated an “outperform” rating and set a $45.00 price objective (down from $46.00) on shares of South Plains Financial in a research report on Monday, January 27th.

South Plains Financial Price Performance

SPFI stock opened at $35.50 on Tuesday. 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 $581.85 million, a price-to-earnings ratio of 12.16 and a beta of 0.62. The business has a fifty day moving average of $35.68 and a two-hundred day moving average of $34.98.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings data on Friday, January 24th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 prior year, the business posted $0.61 earnings per share. As a group, research analysts anticipate that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.

South Plains Financial Dividend Announcement

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

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.