New York State Teachers Retirement System Reduces Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

New York State Teachers Retirement System reduced its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 236,732 shares of the bank’s stock after selling 8,217 shares during the quarter. New York State Teachers Retirement System’s holdings in First Financial Bankshares were worth $7,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First Command Advisory Services Inc. bought a new position in First Financial Bankshares during the 3rd quarter valued at $26,000. Allspring Global Investments Holdings LLC bought a new stake in First Financial Bankshares in the third quarter valued at about $40,000. Dark Forest Capital Management LP increased its holdings in First Financial Bankshares by 200.9% in the first quarter. Dark Forest Capital Management LP now owns 2,022 shares of the bank’s stock valued at $65,000 after buying an additional 1,350 shares during the last quarter. Signaturefd LLC raised its stake in First Financial Bankshares by 35.6% during the third quarter. Signaturefd LLC now owns 2,676 shares of the bank’s stock valued at $67,000 after buying an additional 703 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in First Financial Bankshares by 985.5% during the 3rd quarter. Versant Capital Management Inc now owns 3,289 shares of the bank’s stock worth $83,000 after buying an additional 2,986 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FFIN has been the subject of a number of research analyst reports. Stephens boosted their price target on First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods boosted their target price on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Truist Financial reduced their price target on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.75.

First Financial Bankshares Trading Down 1.8 %

Shares of NASDAQ FFIN opened at $29.68 on Friday. First Financial Bankshares, Inc. has a 12-month low of $22.84 and a 12-month high of $33.15. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 21.20 and a beta of 0.82. The stock’s 50 day simple moving average is $31.29 and its 200 day simple moving average is $28.69.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). First Financial Bankshares had a net margin of 31.28% and a return on equity of 14.53%. The firm had revenue of $119.49 million during the quarter, compared to the consensus estimate of $125.09 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.45 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s payout ratio is currently 51.43%.

About First Financial Bankshares

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.