Quarry LP Takes $83,000 Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Quarry LP acquired a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,798 shares of the bank’s stock, valued at approximately $83,000.

Several other large investors have also modified their holdings of FFIN. First Financial Bankshares Inc acquired a new position in First Financial Bankshares during the 4th quarter worth $553,577,000. Vanguard Group Inc. lifted 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 worth $490,717,000 after purchasing an additional 490,770 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in First Financial Bankshares by 27.6% during the 1st quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock valued at $109,400,000 after purchasing an additional 720,820 shares during the period. Strategic Financial Concepts LLC grew its holdings in First Financial Bankshares by 3,632.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after buying an additional 2,912,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in First Financial Bankshares by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after buying an additional 130,361 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Trading Down 1.6 %

Shares of FFIN stock opened at $35.58 on Thursday. First Financial Bankshares, Inc. has a 12 month low of $22.84 and a 12 month high of $39.53. The company has a market capitalization of $5.08 billion, a P/E ratio of 25.41 and a beta of 0.78. The stock has a 50 day moving average of $36.31 and a two-hundred day moving average of $32.53.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, July 18th. The bank reported $0.37 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 analysts’ expectations of $134.10 million. Sell-side analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, September 12th. First Financial Bankshares’s payout ratio is 51.43%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stephens increased their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Truist Financial increased their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th.

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.