American International Group Inc. boosted its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 341,519 shares of the bank’s stock after acquiring an additional 1,026 shares during the period. American International Group Inc. owned 0.25% of First Financial Bankshares worth $11,987,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. Bank of America Corp DE raised its position in First Financial Bankshares by 96.8% in the second quarter. Bank of America Corp DE now owns 122,497 shares of the bank’s stock worth $3,772,000 after acquiring an additional 60,251 shares during the period. Morgan Stanley raised its position in First Financial Bankshares by 23.3% in the second quarter. Morgan Stanley now owns 70,705 shares of the bank’s stock worth $2,178,000 after acquiring an additional 13,379 shares during the period. Cubist Systematic Strategies LLC bought a new stake in First Financial Bankshares in the second quarter worth about $162,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of First Financial Bankshares by 103.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,637 shares of the bank’s stock worth $81,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of First Financial Bankshares by 127.8% in the second quarter. Royal Bank of Canada now owns 32,907 shares of the bank’s stock worth $1,013,000 after purchasing an additional 18,462 shares in the last quarter. Institutional investors own 51.51% of the company’s stock.
Several research firms have recently weighed in on FFIN. SunTrust Banks lifted their target price on shares of First Financial Bankshares from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday. Stephens reduced their target price on shares of First Financial Bankshares from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. ValuEngine upgraded shares of First Financial Bankshares from a “strong sell” rating to a “sell” rating in a research note on Friday, December 27th. Finally, BidaskClub downgraded shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $34.50.
In other news, Director Michael B. Denny acquired 1,400 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, February 5th. The stock was bought at an average price of $34.73 per share, with a total value of $48,622.00. Following the completion of the purchase, the director now owns 1,974 shares in the company, valued at $68,557.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Johnny Trotter acquired 7,100 shares of First Financial Bankshares stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $35.01 per share, with a total value of $248,571.00. The disclosure for this purchase can be found here. Insiders bought 10,800 shares of company stock valued at $376,813 in the last quarter. Corporate insiders own 4.90% of the company’s stock.
FFIN opened at $35.00 on Friday. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 28.93 and a beta of 1.08. The firm has a 50-day moving average price of $34.58 and a 200-day moving average price of $33.60. First Financial Bankshares Inc has a twelve month low of $27.13 and a twelve month high of $36.45.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, January 23rd. The bank reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $104.40 million during the quarter, compared to the consensus estimate of $101.90 million. First Financial Bankshares had a net margin of 38.54% and a return on equity of 14.01%. During the same quarter last year, the company earned $0.56 earnings per share. On average, research analysts expect that First Financial Bankshares Inc will post 1.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. First Financial Bankshares’s payout ratio is 39.67%.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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