Zacks Investment Research reduces ownership of South Plains Financial (NASDAQ: SPFI)
South Plains Financial (NASDAQ: SPFI) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, âSouth Plains Financial Inc. is the banking holding company of City Bank, a chartered bank. It provides commercial and consumer financial services to small and medium-sized businesses and individuals. The main business activities of the company include commercial and retail banking. as well as insurance, investment trust and mortgage services. South Plains Financial Inc. is headquartered in Lubbock, Texas. “
Separately, TheStreet upgraded South Plains Financial shares from a âcâ rating to a âb-â rating in a research report released on Tuesday, October 12.
NASDAQ: SPFI opened at $ 27.94 on Tuesday. South Plains Financial has a one-year low of $ 18.50 and a one-year high of $ 28.02. The company has a 50-day moving average price of $ 26.16. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt ratio of 0.31. The company has a market cap of $ 497.02 million, a PE ratio of 8.60 and a beta of 0.63.
South Plains Financial (NASDAQ: SPFI) last reported its results on Tuesday, October 26. The company reported earnings per share (EPS) of $ 0.82 for the quarter, beating consensus analysts’ estimates of $ 0.72 per $ 0.10. South Plains Financial had a net margin of 25.49% and a return on equity of 15.61%. The company posted revenue of $ 56.97 million in the quarter, compared to analysts’ expectations of $ 53.30 million. In the same quarter of the previous year, the company posted earnings of $ 0.92 per share. On average, analysts expect South Plains Financial to post earnings per share of 3.1 for the current fiscal year.
Institutional investors recently bought and sold stocks. Citigroup Inc. increased its holdings in South Plains Financial by 140.4% in the third quarter. Citigroup Inc. now owns 1,214 shares of the company valued at $ 30,000 after acquiring an additional 709 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in South Plains Financial by 60.0% in the third quarter. Hillsdale Investment Management Inc. now owns 2,400 shares of the company valued at $ 59,000 after acquiring 900 additional shares in the last quarter. Metropolitan Life Insurance Co NY purchased a new position in South Plains Financial in the third quarter valued at approximately $ 72,000. BNP Paribas Arbitrage SA increased its stake in South Plains Financial by 74.9% in the third quarter. BNP Paribas Arbitrage SA now owns 3,091 shares of the company valued at $ 75,000 after acquiring 1,324 additional shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in South Plains Financial in the third quarter for a value of approximately $ 172,000. Institutional investors and hedge funds hold 23.25% of the company’s shares.
South Plains Financial Company Profile
South Plains Financial, Inc is a banking holding company that provides commercial and retail banking services through its subsidiary City Bank. The company also provides insurance, investment, trust and mortgage services through its other non-bank subsidiaries. It operates through the Banking and Insurance business sectors.
Read more: Is the QQQ ETF Safe?
Get a Free Copy of Zacks’ South Plains Financial (SPFI) Research Report
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in South Plains Financial now?
Before you consider South Plains Financial, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold ofâ¦ and South Plains Financial was not on the list.
While South Plains Financial currently has an “N / A” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here