American International Group Inc. lifted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,577 shares of the bank’s stock after purchasing an additional 2,718 shares during the period. American International Group Inc. owned about 0.08% of First Financial Bankshares worth $2,286,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in FFIN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Financial Bankshares by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock valued at $102,000 after purchasing an additional 239 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in First Financial Bankshares by 63.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock worth $159,000 after buying an additional 1,393 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in First Financial Bankshares by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,141 shares of the bank’s stock worth $183,000 after buying an additional 621 shares during the last quarter. Milestone Group Inc. acquired a new stake in First Financial Bankshares in the 3rd quarter worth about $201,000. Finally, FCA Corp TX acquired a new stake in First Financial Bankshares in the 2nd quarter worth about $213,000. Hedge funds and other institutional investors own 51.40% of the company’s stock.
Several research firms recently issued reports on FFIN. BidaskClub cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Zacks Investment Research cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $39.00 price objective on shares of First Financial Bankshares in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a report on Friday, September 1st. Six analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $43.40.
First Financial Bankshares, Inc. (FFIN) opened at $45.55 on Monday. The firm has a market capitalization of $3,016.60, a P/E ratio of 27.27 and a beta of 1.40. First Financial Bankshares, Inc. has a twelve month low of $36.85 and a twelve month high of $48.85.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $83.95 million for the quarter, compared to analysts’ expectations of $89.87 million. First Financial Bankshares had a return on equity of 12.70% and a net margin of 33.51%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. research analysts forecast that First Financial Bankshares, Inc. will post 1.7 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, December 15th. First Financial Bankshares’s dividend payout ratio is currently 45.51%.
In other news, Director David L. Copeland sold 1,368 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $45.52, for a total transaction of $62,271.36. Following the transaction, the director now directly owns 33,379 shares in the company, valued at approximately $1,519,412.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.40% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “American International Group Inc. Buys 2,718 Shares of First Financial Bankshares, Inc. (FFIN)” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & international copyright laws. The correct version of this article can be read at https://www.dispatchtribunal.com/2017/12/11/american-international-group-inc-buys-2718-shares-of-first-financial-bankshares-inc-ffin.html.
About First Financial Bankshares
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares, Inc. (NASDAQ:FFIN).
Receive News & Ratings for First Financial Bankshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.