South Plains Financial (NASDAQ:SPFI) Price Target Raised to $46.00

South Plains Financial (NASDAQ:SPFI) had its price objective lifted by Keefe, Bruyette & Woods from $45.00 to $46.00 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other research firms have also commented on SPFI. Hovde Group raised their price target on South Plains Financial from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of South Plains Financial in a report on Wednesday, October 8th. Zacks Research lowered shares of South Plains Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Piper Sandler lowered shares of South Plains Financial from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $44.00 to $41.00 in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, South Plains Financial has an average rating of “Moderate Buy” and a consensus price target of $44.25.

South Plains Financial Trading Up 2.0%

Shares of NASDAQ SPFI opened at $41.16 on Friday. South Plains Financial has a twelve month low of $30.01 and a twelve month high of $42.38. The stock has a market cap of $668.85 million, a price-to-earnings ratio of 11.76 and a beta of 0.61. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $37.84 and its 200-day moving average is $38.08.

South Plains Financial (NASDAQ:SPFI) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $54.18 million for the quarter, compared to the consensus estimate of $54.07 million. South Plains Financial had a return on equity of 13.16% and a net margin of 20.09%. Equities research analysts predict that South Plains Financial will post 2.85 EPS for the current year.

South Plains Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, October 27th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $0.64 annualized dividend and a dividend yield of 1.6%. South Plains Financial’s dividend payout ratio (DPR) is currently 18.29%.

Institutional Trading of South Plains Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPFI. State of Alaska Department of Revenue bought a new position in shares of South Plains Financial in the 3rd quarter valued at about $25,000. Raymond James Financial Inc. acquired a new stake in South Plains Financial in the 2nd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new position in South Plains Financial during the third quarter worth about $57,000. CWM LLC grew its holdings in South Plains Financial by 44.8% during the second quarter. CWM LLC now owns 1,678 shares of the company’s stock worth $60,000 after purchasing an additional 519 shares during the period. Finally, Quarry LP acquired a new position in South Plains Financial during the third quarter worth approximately $60,000. 54.95% of the stock is owned by institutional investors.

About South Plains Financial

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.