Point72 Asia Singapore Pte. Ltd. Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Point72 Asia Singapore Pte. Ltd. lifted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,978 shares of the bank’s stock after buying an additional 1,332 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in First Financial Bankshares were worth $236,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hexagon Capital Partners LLC increased its stake in shares of First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of First Financial Bankshares in the 2nd quarter worth approximately $29,000. Neo Ivy Capital Management bought a new position in First Financial Bankshares during the 2nd quarter valued at approximately $41,000. SYSTM Wealth Solutions LLC raised its stake in First Financial Bankshares by 17.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after buying an additional 398 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in First Financial Bankshares in the second quarter worth $97,000. 69.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FFIN has been the subject of several analyst reports. Truist Financial raised their price target on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th. Stephens upped their target price on shares of 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.

First Financial Bankshares Trading Up 0.1 %

Shares of FFIN opened at $36.93 on Friday. The firm has a fifty day simple moving average of $36.30 and a two-hundred day simple moving average of $32.34. The firm has a market cap of $5.28 billion, a PE ratio of 26.38 and a beta of 0.78. First Financial Bankshares, Inc. has a 1-year low of $22.84 and a 1-year high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $184.94 million for the quarter, compared to the consensus estimate of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. As a group, research analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

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

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.