Louisiana State Employees Retirement System Sells 600 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Louisiana State Employees Retirement System decreased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,400 shares of the bank’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in First Financial Bankshares were worth $1,075,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after buying an additional 415 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth approximately $29,000. Neo Ivy Capital Management acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth approximately $41,000. SYSTM Wealth Solutions LLC increased its position in shares of First Financial Bankshares by 17.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after purchasing an additional 398 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of First Financial Bankshares by 128.9% in the fourth quarter. Quadrant Capital Group LLC now owns 4,888 shares of the bank’s stock valued at $148,000 after purchasing an additional 2,753 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Trading Down 1.2 %

Shares of FFIN opened at $35.86 on Wednesday. The stock has a 50 day simple moving average of $33.37 and a 200-day simple moving average of $31.57. The stock has a market cap of $5.12 billion, a PE ratio of 25.61 and a beta of 0.79. First Financial Bankshares, Inc. has a 1 year low of $22.84 and a 1 year high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The firm had revenue of $184.94 million during the quarter, compared to analyst estimates of $134.10 million. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.51 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FFIN shares. Stephens lifted their price target on shares of First Financial Bankshares from $31.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Truist Financial raised their price objective on shares of First Financial Bankshares from $31.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter bought 1,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $27.79 per share, for a total transaction of $27,790.00. Following the completion of the purchase, the director now owns 943,371 shares of the company’s stock, valued at approximately $26,216,280.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sally Pope Davis acquired 1,800 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $28.75 per share, with a total value of $51,750.00. Following the acquisition, the director now directly owns 1,800 shares in the company, valued at $51,750. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Johnny Trotter bought 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $27.79 per share, with a total value of $27,790.00. Following the completion of the purchase, the director now owns 943,371 shares of the company’s stock, valued at approximately $26,216,280.09. The disclosure for this purchase can be found here. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.