2 weeks Ago By ABMN Staff
Alliancebernstein L.P. trimmed its stake in shares of South Plains Financial, Inc.
( NASDAQ:SPFI – Free Report ) by 3.4% during the 4th quarter, Holdings Channel reports. The fund owned 9,320 shares of the company’s stock after selling 330 shares during the quarter.
Alliancebernstein L.P.’s holdings in South Plains Financial were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in South Plains Financial by 200.
1% during 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 in the last quarter.
Franklin Resources Inc. acquired a new position in South Plains Financial in the 3rd quarter valued at $223,000. State Street Corp lifted its holdings in South Plains Financial by 4.
7% in the 3rd quarter. State Street Corp now owns 274,701 shares of the company’s stock valued at $9,318,000 after purchasing an additional 12,271 shares in the last quarter. Barclays PLC boosted its stake in South Plains Financial by 29.
6% during the 3rd quarter. Barclays PLC now owns 53,367 shares of the company’s stock worth $1,810,000 after purchasing an additional 12,200 shares during the last quarter. Finally, FMR LLC grew 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 worth $47,000 after buying an additional 394 shares in the last quarter. 54.
95% of the stock is currently owned by hedge funds and other institutional investors. Insider Activity In other South Plains Financial news, Director Noe G. Valles purchased 100,000 shares of the stock in a transaction that occurred on Monday, March 10th.
The stock was purchased at an average cost of $33.00 per share, with a total value of $3,300,000.00.
Following the completion of the acquisition, the director now directly owns 486,437 shares of the company’s stock, valued at $16,052,421. This trade represents a 25.88 % increase in their position.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, CEO Curtis C. Griffith sold 5,196 shares of the firm’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 transaction of $184,977.60.
Following the sale, the chief executive officer now directly owns 828,683 shares in the company, valued at approximately $29,501,114.80. The trade was a 0.
62 % decrease in their position. The disclosure for this sale can be found here . In the last quarter, insiders sold 42,061 shares of company stock worth $1,493,613.
25.39% of the stock is currently owned by company insiders. South Plains Financial Price Performance South Plains Financial ( NASDAQ:SPFI – Get Free Report ) last announced its earnings results on Friday, January 24th.
The company reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $0.61 EPS.
As a group, sell-side analysts expect that South Plains Financial, Inc. will post 2.85 earnings per share for the current year.
South Plains Financial declared that its board has approved a share buyback plan on Tuesday, February 25th that authorizes the company to repurchase $15.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.
7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued. South Plains Financial Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th.
Shareholders of record on Monday, April 28th will be given a $0.15 dividend. This represents a $0.
60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, April 28th.
South Plains Financial’s dividend payout ratio is currently 20.55%. Wall Street Analyst Weigh In A number of research firms recently weighed in on SPFI.
Hovde Group boosted their price target on shares of South Plains Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th.
Keefe, Bruyette & Woods restated an “outperform” rating and set a $45.00 price target (down previously from $46.00) on shares of South Plains Financial in a report on Monday, January 27th.
Check Out Our Latest Stock Analysis on South Plains Financial South Plains Financial Company Profile ( Free Report ) 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.
Featured Articles Want to see what other hedge funds are holding SPFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South Plains Financial, Inc. ( NASDAQ:SPFI – Free Report ).
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