Panagora Asset Management Inc. Grows Holdings in First Financial Bankshares Inc (FFIN)

Panagora Asset Management Inc. grew its holdings in First Financial Bankshares Inc (NASDAQ:FFIN) by 445.5% during the third quarter, HoldingsChannel reports. The firm owned 191,663 shares of the bank’s stock after acquiring an additional 156,527 shares during the period. Panagora Asset Management Inc.’s holdings in First Financial Bankshares were worth $11,327,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FDx Advisors Inc. grew its stake in shares of First Financial Bankshares by 40.6% in the third quarter. FDx Advisors Inc. now owns 13,907 shares of the bank’s stock worth $822,000 after acquiring an additional 4,014 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of First Financial Bankshares during the third quarter worth $1,894,000. American International Group Inc. grew its stake in shares of First Financial Bankshares by 1.9% during the third quarter. American International Group Inc. now owns 51,368 shares of the bank’s stock worth $3,036,000 after purchasing an additional 977 shares in the last quarter. BlackRock Inc. grew its stake in shares of First Financial Bankshares by 3.6% during the third quarter. BlackRock Inc. now owns 9,775,130 shares of the bank’s stock worth $577,710,000 after purchasing an additional 342,394 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of First Financial Bankshares by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 940,752 shares of the bank’s stock worth $55,598,000 after purchasing an additional 12,202 shares in the last quarter. 54.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Johnny Trotter purchased 2,000 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, October 23rd. The stock was purchased at an average cost of $55.65 per share, with a total value of $111,300.00. Following the completion of the transaction, the director now directly owns 384,926 shares in the company, valued at $21,421,131.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.77% of the stock is owned by insiders.

A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, November 19th. BidaskClub upgraded shares of First Financial Bankshares from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 17th. Finally, Stephens set a $52.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Monday, October 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $52.43.

Shares of FFIN stock opened at $65.52 on Monday. The firm has a market cap of $4.44 billion, a P/E ratio of 38.54 and a beta of 1.14. First Financial Bankshares Inc has a 12 month low of $44.05 and a 12 month high of $66.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 18th. The bank reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $96.48 million during the quarter, compared to the consensus estimate of $97.34 million. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Analysts expect that First Financial Bankshares Inc will post 2.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.28%. First Financial Bankshares’s payout ratio is currently 49.41%.

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First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

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Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares Inc (NASDAQ:FFIN).

Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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