Thrivent Financial for Lutherans Sells 20,515 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Thrivent Financial for Lutherans cut its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 32.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,997 shares of the bank’s stock after selling 20,515 shares during the period. Thrivent Financial for Lutherans’ holdings in First Financial Bankshares were worth $1,240,000 as of its most recent SEC filing.

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

First Financial Bankshares Price Performance

Shares of NASDAQ FFIN opened at $35.89 on Friday. First Financial Bankshares, Inc. has a 1 year low of $22.84 and a 1 year high of $39.53. The firm has a fifty day moving average price of $36.18 and a 200-day moving average price of $32.59. The stock has a market cap of $5.13 billion, a PE ratio of 25.64 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share 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 analyst estimates of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. On average, research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 12th. First Financial Bankshares’s payout ratio is currently 51.43%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FFIN shares. Stephens increased 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 report on Friday, July 19th. Truist Financial lifted their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research 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.