Raymond James has revised its price target for South Plains Financial (SPFI, Financial), reducing it slightly from $39 to $38. Despite this adjustment, the firm maintains an Outperform rating for the shares, reflecting a positive outlook on the company's performance and potential.
In the first quarter, South Plains Financial exceeded market expectations, with both its earnings per share (EPS) and pre-provision net revenue surpassing estimates on a core basis. A notable highlight was the expansion of the net interest margin by 6 basis points compared to the previous quarter, indicating improved profitability.
The firm remains optimistic about SPFI, citing the company's strengthening financial health. This includes its solid profitability, robust capital reserves, and healthy liquidity levels, which contribute to a favorable risk-reward scenario for investors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for South Plains Financial Inc (SPFI, Financial) is $42.50 with a high estimate of $45.00 and a low estimate of $38.00. The average target implies an upside of 27.86% from the current price of $33.24. More detailed estimate data can be found on the South Plains Financial Inc (SPFI) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, South Plains Financial Inc's (SPFI, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for South Plains Financial Inc (SPFI, Financial) in one year is $30.24, suggesting a downside of 9.03% from the current price of $33.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the South Plains Financial Inc (SPFI) Summary page.
