Public Employees Retirement Association of Colorado Reduces Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Public Employees Retirement Association of Colorado lessened its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 12.5% in the second quarter, Holdings Channel reports. The institutional investor owned 15,244 shares of the bank’s stock after selling 2,182 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in First Financial Bankshares were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Financial Bankshares Inc purchased a new position in First Financial Bankshares during the fourth quarter valued at approximately $553,577,000. Vanguard Group Inc. grew its position in shares of First Financial Bankshares by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after purchasing an additional 490,770 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of First Financial Bankshares by 480.0% in the second quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after purchasing an additional 32,774 shares during the period. Rafferty Asset Management LLC raised its position in shares of First Financial Bankshares by 105.3% in the fourth quarter. Rafferty Asset Management LLC now owns 146,235 shares of the bank’s stock worth $4,431,000 after buying an additional 74,996 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in First Financial Bankshares during the first quarter valued at $1,100,000. 69.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FFIN. Stephens upped their target price on 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 boosted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $36.93 on Friday. The firm has a market capitalization of $5.28 billion, a PE ratio of 26.38 and a beta of 0.78. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $39.53. The firm has a fifty day moving average of $36.30 and a 200 day moving average of $32.34.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

First Financial Bankshares 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.