Zacks Investment Research lowered shares of South Plains Financial (NASDAQ:SPFI) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.
According to Zacks, “South Plains Financial Inc. is the bank holding company for City Bank, a chartered bank. It provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company’s principal business activities include commercial and retail banking along with insurance, investment trust and mortgage services. South Plains Financial Inc. is headquartered in Lubbock, Texas. “
Separately, BidaskClub upgraded South Plains Financial from a sell rating to a hold rating in a research report on Thursday, September 3rd.
Shares of NASDAQ:SPFI opened at $11.99 on Tuesday. South Plains Financial has a 1-year low of $11.30 and a 1-year high of $22.00. The stock has a market cap of $216.53 million, a PE ratio of 7.09 and a beta of 0.45. The stock’s fifty day simple moving average is $14.11 and its two-hundred day simple moving average is $13.64. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.72.
South Plains Financial (NASDAQ:SPFI) last posted its earnings results on Wednesday, July 29th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.05. The business had revenue of $55.34 million during the quarter, compared to analyst estimates of $48.80 million. South Plains Financial had a return on equity of 9.80% and a net margin of 14.60%. On average, sell-side analysts forecast that South Plains Financial will post 1.55 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of South Plains Financial by 50.5% during the first quarter. Acadian Asset Management LLC now owns 47,801 shares of the company’s stock worth $739,000 after purchasing an additional 16,045 shares during the last quarter. State of Wisconsin Investment Board increased its stake in shares of South Plains Financial by 13.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 113,939 shares of the company’s stock worth $1,622,000 after purchasing an additional 13,939 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of South Plains Financial by 64.5% during the 1st quarter. Bank of New York Mellon Corp now owns 33,293 shares of the company’s stock worth $516,000 after purchasing an additional 13,055 shares in the last quarter. Polaris Capital Management LLC grew its stake in South Plains Financial by 6.0% in the 1st quarter. Polaris Capital Management LLC now owns 224,300 shares of the company’s stock worth $3,474,000 after acquiring an additional 12,700 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of South Plains Financial during the 1st quarter valued at $191,000. Institutional investors and hedge funds own 21.59% of the company’s stock.
South Plains Financial Company Profile
There is no company description available for South Plains Financial Inc
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