Jul. 23 at 10:41 AM
$SPFI South Plains Financial price target raised to
$36 from
$32 at Piper Sandler
Piper Sandler analyst Graham Dick raised the firm's price target on South Plains Financial to
$36 from
$32 and keeps an Overweight rating on the shares after quarterly results. The firm's new 2024/2025 estimates are
$2.48/
$2.56, up from
$2.34/
$2.56, with the upward adjustment in 2024 coming primarily from the higher Q2 results, while 2025 is flat. Piper believes South Plains Financial is well positioned to outperform this year due to its liability-sensitive position, flexible balance sheet, and excess capital - which is poised to grow further as share repurchases become less advantageous. These strengths should enable the bank to capitalize on growth opportunities, while competitors continue to retreat, it adds.
