State of Tennessee Treasury Department Has $2.64 Million Stake in First Financial Bankshares, Inc. (FFIN)

State of Tennessee Treasury Department trimmed its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,299 shares of the bank’s stock after selling 3,685 shares during the period. State of Tennessee Treasury Department owned approximately 0.09% of First Financial Bankshares worth $2,635,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank lifted its stake in shares of First Financial Bankshares by 2.6% during the 2nd quarter. Amalgamated Bank now owns 8,768 shares of the bank’s stock worth $388,000 after acquiring an additional 225 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Financial Bankshares by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after acquiring an additional 239 shares during the last quarter. Strs Ohio lifted its stake in shares of First Financial Bankshares by 6.4% during the 2nd quarter. Strs Ohio now owns 5,000 shares of the bank’s stock worth $221,000 after acquiring an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of First Financial Bankshares by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the bank’s stock worth $2,206,000 after acquiring an additional 361 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in shares of First Financial Bankshares by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 48,283 shares of the bank’s stock worth $2,134,000 after acquiring an additional 407 shares during the last quarter. 50.58% of the stock is owned by institutional investors and hedge funds.

Shares of First Financial Bankshares, Inc. (NASDAQ FFIN) opened at $44.30 on Friday. The firm has a market capitalization of $2,930.50, a price-to-earnings ratio of 26.50 and a beta of 1.39. First Financial Bankshares, Inc. has a 1 year low of $36.85 and a 1 year high of $47.90.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $83.95 million during the quarter, compared to analyst estimates of $89.87 million. First Financial Bankshares had a return on equity of 12.70% and a net margin of 33.51%. First Financial Bankshares’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. equities analysts predict that First Financial Bankshares, Inc. will post 1.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, December 15th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 45.51%.

First Financial Bankshares announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 25th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts recently issued reports on FFIN shares. Piper Jaffray Companies reissued a “hold” rating and set a $41.00 price target on shares of First Financial Bankshares in a research note on Friday, July 21st. Zacks Investment Research raised First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, July 26th. Stephens set a $39.00 price target on First Financial Bankshares and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub lowered First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $39.00 price target on shares of First Financial Bankshares in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. First Financial Bankshares has a consensus rating of “Hold” and a consensus target price of $43.40.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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

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