Benchmark Reiterates Buy Rating on SPFI
Benchmark has reiterated its buy rating on SPFI, setting a price target of $53, a 23.69% upside from the current price.
Key Points
- Benchmark analyst Brett Rabatin reiterated a buy rating on SPFI with a $53 price target on June 26, 2026.
- Benchmark's $53 price target implies 23.69% upside from South Plains Financial, Inc.'s ($SPFI) current $42.85 share price.
- SPFI shares traded near $42.85 on Friday, with ongoing institutional interest from major funds like BlackRock and Vanguard.
- Insider transactions show mixed activity, with CEO Curtis Griffith selling 300,000 shares on June 18, 2026.
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Benchmark analyst Brett Rabatin reiterated his buy rating on SPFI, setting a price target of $53 on June 26, 2026. SPFI shares traded near $42.85 on Friday, reflecting continuing interest in the stock.
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Other Institutional Activity in SPFI
BlackRock, Inc. reduced its holdings in SPFI by 64,454 shares, bringing its total to 1,152,128 shares valued at approximately $48.3 million, a 5.3% decrease. Vanguard Capital Management LLC opened a new position with 558,518 shares worth about $23.4 million. Acadian Asset Management LLC increased its stake by 102,018 shares to 491,442 shares, valued at $20.6 million, marking a 26.2% rise. Dimensional Fund Advisors LP trimmed its position by 16,478 shares, holding 435,347 shares worth $18.2 million, a 3.6% decrease. Meanwhile, American Century Companies Inc added 31,860 shares, resulting in 409,848 shares valued at $17.2 million, an 8.4% increase.
Insider Buying and Selling at South Plains Financial, Inc.
Chairman and CEO Curtis Griffith sold 300,000 shares of SPFI on June 18, 2026, at an average price of $41.39. On May 20, 2026, several insiders including Kyle Wargo, Noe Valles, Ladana Washburn, and Richard Campbell each bought 623 shares at undisclosed prices.
Analysts Set New Price Targets
On June 26, 2026, Benchmark initiated coverage on SPFI with a buy rating and a $53 price target. Piper Sandler maintained its buy rating with a $46 target on April 30, 2026, and upgraded SPFI to buy with a $48 target on March 2, 2026. Raymond James maintained a buy rating with a $44 target on January 7, 2026.
Bottom Line
Benchmark's reiteration of a buy rating for SPFI with a $53 target underscores continued confidence in the stock's potential. Institutional investors are actively adjusting their positions, reflecting varied perspectives on SPFI's future. Insider transactions also indicate mixed sentiment, with significant selling by the CEO but buying by other insiders. Keep in mind that analyst ratings and 13F filings provide a backward-looking view and may not reflect current holdings or sentiment.
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