First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System increased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFINGet Rating) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,715 shares of the bank’s stock after purchasing an additional 619 shares during the period. California Public Employees Retirement System owned 0.20% of First Financial Bankshares worth $12,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. Allspring Global Investments Holdings LLC acquired a new stake in First Financial Bankshares during the fourth quarter worth about $2,061,000. State of New Jersey Common Pension Fund D boosted its stake in First Financial Bankshares by 2.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 59,121 shares of the bank’s stock worth $3,006,000 after buying an additional 1,414 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in First Financial Bankshares during the fourth quarter worth about $204,000. Yousif Capital Management LLC purchased a new position in First Financial Bankshares during the fourth quarter worth about $3,500,000. Finally, CWM LLC purchased a new position in First Financial Bankshares during the fourth quarter worth about $1,589,000. 53.35% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $44.65 on Friday. First Financial Bankshares, Inc. has a one year low of $37.47 and a one year high of $55.00. The firm has a 50 day simple moving average of $40.85 and a 200-day simple moving average of $43.26. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 27.73 and a beta of 0.88.

First Financial Bankshares (NASDAQ:FFINGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. First Financial Bankshares had a net margin of 42.97% and a return on equity of 14.63%. The company had revenue of $139.47 million during the quarter, compared to the consensus estimate of $133.87 million. Equities analysts predict that First Financial Bankshares, Inc. will post 1.62 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. First Financial Bankshares’s dividend payout ratio is currently 42.24%.

Insider Buying and Selling

In other news, Director Michael B. Denny purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was bought at an average price of $40.65 per share, for a total transaction of $101,625.00. Following the completion of the purchase, the director now directly owns 85,958 shares of the company’s stock, valued at $3,494,192.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael B. Denny acquired 2,500 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were bought at an average price of $40.65 per share, with a total value of $101,625.00. Following the completion of the acquisition, the director now owns 85,958 shares in the company, valued at $3,494,192.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Johnny Trotter acquired 1,000 shares of the business’s stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $39.34 per share, for a total transaction of $39,340.00. Following the acquisition, the director now owns 893,757 shares of the company’s stock, valued at approximately $35,160,400.38. The disclosure for this purchase can be found here. 4.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on FFIN. Truist Financial increased their target price on shares of First Financial Bankshares to $46.00 in a research note on Monday, July 25th. Hovde Group lowered their target price on shares of First Financial Bankshares to $44.50 in a research note on Friday, July 22nd. Stephens raised their price objective on shares of First Financial Bankshares to $44.00 in a research note on Tuesday, July 26th. Finally, StockNews.com raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.

About First Financial Bankshares

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

Further Reading

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

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