State of Alaska Department of Revenue Has $519,000 Stock Position in First Financial Bankshares, Inc. $FFIN

State of Alaska Department of Revenue lowered its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,446 shares of the bank’s stock after selling 610 shares during the period. State of Alaska Department of Revenue’s holdings in First Financial Bankshares were worth $519,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares in the 1st quarter worth about $26,000. Fifth Third Bancorp increased its holdings in First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock worth $26,000 after purchasing an additional 441 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in First Financial Bankshares in the 1st quarter worth about $36,000. Smartleaf Asset Management LLC increased its holdings in First Financial Bankshares by 47.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock worth $45,000 after purchasing an additional 404 shares in the last quarter. Finally, Quarry LP increased its holdings in First Financial Bankshares by 336.9% in the 1st quarter. Quarry LP now owns 1,573 shares of the bank’s stock worth $57,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Ratings Changes

FFIN has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Financial Bankshares in a report on Saturday, September 27th. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 target price for the company. Hovde Group increased their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods increased 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, July 18th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, First Financial Bankshares currently has a consensus rating of “Hold” and a consensus target price of $39.00.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $33.39 on Thursday. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66. The stock’s 50-day moving average is $35.29 and its 200 day moving average is $35.24. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 19.41 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. During the same quarter in the prior year, the company earned $0.37 EPS. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a $0.19 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.3%. First Financial Bankshares’s dividend payout ratio is presently 44.19%.

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.