Renaissance Technologies LLC Makes New Investment in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Renaissance Technologies LLC purchased a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 61,808 shares of the bank’s stock, valued at approximately $1,825,000.

Several other institutional investors have also modified their holdings of FFIN. Signaturefd LLC increased its position in First Financial Bankshares by 5.0% in the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after acquiring an additional 270 shares during the period. Crewe Advisors LLC raised its stake in shares of First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after purchasing an additional 296 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in First Financial Bankshares by 81.1% in the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after purchasing an additional 415 shares during the period. Retirement Systems of Alabama grew its position in First Financial Bankshares by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock valued at $5,292,000 after buying an additional 426 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in First Financial Bankshares by 4.5% during the 1st quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock valued at $398,000 after buying an additional 521 shares during the period. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Down 0.3 %

First Financial Bankshares stock opened at $35.49 on Friday. The firm’s fifty day simple moving average is $36.25 and its 200-day simple moving average is $32.55. First Financial Bankshares, Inc. has a 1-year low of $22.84 and a 1-year high of $39.53. The company has a market capitalization of $5.07 billion, a P/E ratio of 25.35 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating 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 company had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.03%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Analysts Set New Price Targets

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

About First Financial Bankshares

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.