Arizona State Retirement System Sells 456 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Arizona State Retirement System lessened its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,807 shares of the bank’s stock after selling 456 shares during the period. Arizona State Retirement System’s holdings in First Financial Bankshares were worth $1,250,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock valued at $26,000 after acquiring an additional 441 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in shares of First Financial Bankshares during the first quarter valued at $26,000. UMB Bank n.a. lifted its stake in shares of First Financial Bankshares by 245.6% during the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank’s stock valued at $68,000 after acquiring an additional 1,353 shares during the period. GAMMA Investing LLC lifted its stake in shares of First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock valued at $69,000 after acquiring an additional 912 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock valued at $118,000 after acquiring an additional 3,039 shares during the period. Institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday. Hovde Group dropped their price objective on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Monday, April 21st.

First Financial Bankshares Trading Up 1.4%

NASDAQ FFIN opened at $37.32 on Friday. First Financial Bankshares, Inc. has a 1-year low of $30.58 and a 1-year high of $44.66. The stock has a 50-day moving average of $36.07 and a 200-day moving average of $35.75. The firm has a market cap of $5.34 billion, a PE ratio of 21.70 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. First Financial Bankshares had a return on equity of 14.89% and a net margin of 31.01%. During the same period in the prior year, the company posted $0.37 EPS. As a group, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.04%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 16th. First Financial Bankshares’s payout ratio is 46.91%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny purchased 5,000 shares of the stock in a transaction dated Friday, June 13th. The shares were purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the transaction, the director owned 108,708 shares in the company, valued at $3,915,662.16. The trade was a 4.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have purchased 6,399 shares of company stock worth $227,646. 4.22% of the stock is owned by insiders.

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.