Vanguard Group Inc. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,827,897 shares of the bank’s stock after purchasing an additional 77,503 shares during the quarter. Vanguard Group Inc. owned 8.87% of First Financial Bankshares worth $257,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Financial Bankshares by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock valued at $102,000 after purchasing an additional 239 shares during the period. Victory Capital Management Inc. grew its stake in First Financial Bankshares by 26.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock valued at $141,000 after purchasing an additional 743 shares during the period. Riverhead Capital Management LLC grew its stake in First Financial Bankshares by 63.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock valued at $159,000 after purchasing an additional 1,393 shares during the period. FCA Corp TX bought a new position in First Financial Bankshares in the 2nd quarter valued at $213,000. Finally, Strs Ohio grew its stake in First Financial Bankshares by 6.4% in the 2nd quarter. Strs Ohio now owns 5,000 shares of the bank’s stock valued at $221,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 50.12% of the company’s stock.
FFIN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, July 26th. Stephens set a $39.00 price objective on First Financial Bankshares and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $39.00 price objective on shares of First Financial Bankshares in a research note on Tuesday, October 3rd. Piper Jaffray Companies restated a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a research note on Friday, September 1st. Finally, BidaskClub downgraded First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.00.
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First Financial Bankshares, Inc. (FFIN) opened at 44.50 on Friday. The stock’s 50 day moving average price is $42.14 and its 200-day moving average price is $41.21. First Financial Bankshares, Inc. has a 12 month low of $35.05 and a 12 month high of $46.70. The stock has a market cap of $2.92 billion, a PE ratio of 27.44 and a beta of 1.38.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. First Financial Bankshares had a return on equity of 12.41% and a net margin of 33.03%. The company had revenue of $82.25 million during the quarter, compared to analyst estimates of $87.11 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. First Financial Bankshares’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that First Financial Bankshares, Inc. will post $1.70 EPS for the current fiscal year.
First Financial Bankshares announced that its Board of Directors has approved a stock buyback program on Tuesday, July 25th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Thursday, September 14th. First Financial Bankshares’s payout ratio is currently 46.91%.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
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