BlackRock Inc. boosted its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,775,130 shares of the bank’s stock after buying an additional 342,394 shares during the period. BlackRock Inc. owned 0.14% of First Financial Bankshares worth $577,710,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in First Financial Bankshares by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 940,752 shares of the bank’s stock valued at $55,598,000 after buying an additional 12,202 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in First Financial Bankshares by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,155 shares of the bank’s stock valued at $955,000 after buying an additional 1,851 shares during the last quarter. Parametrica Management Ltd purchased a new position in First Financial Bankshares in the third quarter valued at $224,000. Commonwealth Equity Services LLC increased its holdings in First Financial Bankshares by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 186,633 shares of the bank’s stock valued at $11,030,000 after buying an additional 2,194 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in First Financial Bankshares in the third quarter valued at $646,000. Institutional investors own 54.33% of the company’s stock.
NASDAQ FFIN opened at $61.21 on Thursday. First Financial Bankshares Inc has a 1 year low of $44.05 and a 1 year high of $66.83. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 36.01 and a beta of 1.14.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The company had revenue of $96.48 million during the quarter, compared to the consensus estimate of $97.34 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. First Financial Bankshares’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts forecast that First Financial Bankshares Inc will post 2.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.37%. First Financial Bankshares’s dividend payout ratio is presently 49.41%.
In related news, Director Johnny Trotter acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The stock was bought at an average price of $55.65 per share, for a total transaction of $111,300.00. Following the completion of the purchase, the director now directly owns 384,926 shares of the company’s stock, valued at approximately $21,421,131.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.77% of the company’s stock.
FFIN has been the topic of several recent analyst reports. BidaskClub raised First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Robert W. Baird initiated coverage on First Financial Bankshares in a report on Tuesday, October 16th. They issued a “neutral” rating and a $60.00 target price on the stock. Stephens set a $52.00 target price on First Financial Bankshares and gave the company a “hold” rating in a report on Monday, October 22nd. Finally, Zacks Investment Research lowered First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. First Financial Bankshares currently has an average rating of “Hold” and a consensus price target of $52.43.
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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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