Piper Sandler upgrades South Plains Financial, sees upside from BOH deal

SOUTH PLAINS FINANCIAL

02/03/2026 12:19

** Piper Sandler upgrades bank holding company South Plains Financial SPFI.O to "overweight" from "neutral"

** Cites upbeat growth trends; says BOH acquisition and market disruption present additional upside

** Last December, South Plains Financial agreed to buy Houston-based BOH Holdings, the parent company of Bank of Houston, in an all-stock transaction valued at approx $105.9 million

** Shares have underperformed slightly since 3Q25 earnings, but after a couple of years of stagnant loan growth, 4Q25 loan growth was encouraging and the opportunity set in the Houston metropolitan region continues to improve, brokerage says

   ** Four analysts covering the stock rate it "buy"; their median PT is $48 - data compiled by LSEG

** As of last close, SPFI up 5.5% YTD

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))