South Plains Financial, Inc. (NASDAQ:SPFI) Short Interest Update

South Plains Financial, Inc. (NASDAQ:SPFI) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 36,100 shares, a drop of 30.4% from the December 15th total of 51,900 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 35,200 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

Separately, Hovde Group boosted their price objective on shares of South Plains Financial from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Insider Buying and Selling at South Plains Financial

In other news, CEO Curtis C. Griffith sold 50,000 shares of South Plains Financial stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.50, for a total value of $1,675,000.00. Following the completion of the transaction, the chief executive officer now owns 865,967 shares in the company, valued at approximately $29,009,894.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On South Plains Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of SPFI. FMR LLC grew its holdings in South Plains Financial by 39.3% in the third quarter. FMR LLC now owns 1,397 shares of the company’s stock valued at $47,000 after purchasing an additional 394 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in South Plains Financial by 20.9% during the third quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock worth $157,000 after purchasing an additional 800 shares during the last quarter. US Bancorp DE purchased a new position in South Plains Financial during the third quarter worth approximately $36,000. Rosenthal Henry Capital Advisors Inc. boosted its holdings in shares of South Plains Financial by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 84,450 shares of the company’s stock valued at $2,865,000 after purchasing an additional 1,750 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of South Plains Financial by 72.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock worth $153,000 after buying an additional 1,891 shares during the last quarter. Institutional investors and hedge funds own 54.95% of the company’s stock.

South Plains Financial Stock Performance

Shares of NASDAQ:SPFI traded down $0.10 on Thursday, reaching $34.67. The company’s stock had a trading volume of 22,441 shares, compared to its average volume of 34,914. The stock has a market capitalization of $568.24 million, a P/E ratio of 13.49 and a beta of 0.62. South Plains Financial has a 52-week low of $24.05 and a 52-week high of $40.90. The stock’s 50-day moving average is $36.97 and its two-hundred day moving average is $34.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.

South Plains Financial (NASDAQ:SPFI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. South Plains Financial had a net margin of 15.51% and a return on equity of 10.39%. The company had revenue of $72.28 million during the quarter, compared to the consensus estimate of $48.90 million. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts forecast that South Plains Financial will post 2.62 EPS for the current year.

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.