Short Interest in South Plains Financial, Inc. (NASDAQ:SPFI) Decreases By 30.4%

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

South Plains Financial Stock Down 0.3 %

NASDAQ SPFI traded down $0.10 on Thursday, reaching $34.67. The company had a trading volume of 22,441 shares, compared to its average volume of 34,914. The firm has a market capitalization of $568.24 million, a PE ratio of 13.49 and a beta of 0.62. The firm has a 50-day moving average of $36.97 and a 200-day moving average of $34.09. South Plains Financial has a 1 year low of $24.05 and a 1 year high of $40.90. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.66 earnings per share for the quarter, beating 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 business had revenue of $72.28 million during the quarter, compared to analyst estimates of $48.90 million. During the same period last year, the business earned $0.78 EPS. On average, equities research analysts anticipate that South Plains Financial will post 2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Hovde Group upped their price target 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

In other South Plains Financial news, CEO Curtis C. Griffith sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.50, for a total transaction of $1,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 865,967 shares in the company, valued at $29,009,894.50. The trade was a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.39% of the company’s stock.

Hedge Funds Weigh In On South Plains Financial

Several institutional investors and hedge funds have recently made changes to their positions in SPFI. FMR LLC increased its stake in shares of South Plains Financial by 39.3% in the third quarter. FMR LLC now owns 1,397 shares of the company’s stock worth $47,000 after buying an additional 394 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in South Plains Financial by 20.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,631 shares of the company’s stock worth $157,000 after acquiring an additional 800 shares in the last quarter. US Bancorp DE bought a new stake in shares of South Plains Financial in the 3rd quarter worth about $36,000. Rosenthal Henry Capital Advisors Inc. increased its position 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 worth $2,865,000 after purchasing an additional 1,750 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of South Plains Financial by 72.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,503 shares of the company’s stock valued at $153,000 after purchasing an additional 1,891 shares in the last quarter. 54.95% of the stock is currently owned by hedge funds and other 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.