First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,532 shares of the bank’s stock after selling 10,200 shares during the quarter. New York State Teachers Retirement System owned 0.14% of First Financial Bankshares worth $7,311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $29,000. Neo Ivy Capital Management acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $41,000. Quarry LP acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $83,000. Point72 DIFC Ltd acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $97,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $118,000. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $36.08 on Tuesday. The stock has a 50-day simple moving average of $36.73 and a 200-day simple moving average of $33.51. The stock has a market capitalization of $5.15 billion, a PE ratio of 24.88 and a beta of 0.78. First Financial Bankshares, Inc. has a 1 year low of $24.22 and a 1 year high of $39.53.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 12th. First Financial Bankshares’s payout ratio is presently 49.66%.

Wall Street Analysts Forecast Growth

FFIN has been the subject of a number of research analyst reports. Hovde Group raised their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Truist Financial raised their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Stephens raised their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th.

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.