Several hedge funds have recently changed their investments in First Financial Bankshares (FFIN). In the 4th quarter, First Financial Bankshares Inc acquired a new stake valued at about $553.6 million. In the 1st quarter, Vanguard Group raised its stake by 3.4%, owning 14.96 million shares worth approximately $490.7 million. SG Americas Securities increased its stake by 480% in the 2nd quarter, owning 39,602 shares worth $1.17 million. Rafferty Asset Management boosted its holdings by 105% in the 4th quarter, now owning 146,235 shares valued at $4.43 million. Ontario Teachers Pension Plan Board also started investing in the bank in the first quarter with a stake worth about $1.1 million. Overall, institutional investors and hedge funds own 69.78% of FFIN stock.
First Financial Bankshares Stock Performance
As of Friday, FFIN shares opened at $35.49. The company’s market cap is $5.07 billion, with a price-to-earnings ratio of 25.35. In the past year, the stock’s low was $22.84 and its high was $39.53. The 50-day moving average is $36.25, and the 200-day moving average is $32.55.
First Financial Bankshares (NASDAQ:FFIN) reported earnings on July 18th, showing $0.37 earnings per share, surpassing the estimate of $0.36 by $0.01. Revenue for the quarter was $184.94 million, exceeding projections of $134.10 million. The bank reported a net margin of 29.13% and a return on equity of 14.01%. Analysts predict FFIN will post an EPS of 1.52 for the current fiscal year.
First Financial Bankshares Announces Dividend
The company declared a quarterly dividend of $0.18 per share paid on October 1st to shareholders of record on September 12th. This translates to an annual dividend of $0.72, yielding 2.03%. Their current payout ratio is 51.43%.
Analyst Ratings Changes
Analysts have recently updated their ratings for FFIN. Stephens raised their price target from $31.00 to $36.00, rating the stock as “equal weight.” Truist Financial increased its price objective from $39.00 to $40.00, giving it a “hold” rating.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc. offers commercial banking services in Texas, including various deposits, ATMs, internet and mobile banking, payroll services, and wealth management.
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