First Financial Bankshares Inc (NASDAQ:FFIN) Holdings Reduced by California State Teachers Retirement System
California State Teachers Retirement System trimmed its position in First Financial Bankshares Inc (NASDAQ:FFIN) by 2.3% during the 1st quarter, Holdings Channel reports. The firm owned 99,524 shares of the bank’s stock after selling 2,332 shares during the quarter. California State Teachers Retirement System’s holdings in First Financial Bankshares were worth $5,750,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of First Financial Bankshares by 767.3% in the 1st quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock worth $26,000 after acquiring an additional 399 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of First Financial Bankshares in the 4th quarter worth $29,000. Liberty Wealth Management LLC purchased a new position in First Financial Bankshares during the fourth quarter valued at $36,000. Pennsylvania Trust Co purchased a new position in First Financial Bankshares during the first quarter valued at $327,000. Finally, PNC Financial Services Group Inc. raised its holdings in First Financial Bankshares by 20.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,213 shares of the bank’s stock valued at $127,000 after acquiring an additional 381 shares during the period. 55.53% of the stock is currently owned by hedge funds and other institutional investors.
FFIN has been the subject of a number of recent research reports. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Stephens restated a “neutral” rating and set a $28.50 price target on shares of First Financial Bankshares in a report on Monday, April 22nd. Zacks Investment Research cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Finally, ValuEngine downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.33.
FFIN opened at $29.53 on Wednesday. First Financial Bankshares Inc has a 1-year low of $25.27 and a 1-year high of $33.42. The firm has a market capitalization of $7.92 billion, a P/E ratio of 27.09 and a beta of 1.16.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.28. The firm had revenue of $95.77 million for the quarter, compared to analyst estimates of $96.90 million. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. During the same period last year, the firm posted $0.26 earnings per share. On average, equities analysts expect that First Financial Bankshares Inc will post 1.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. First Financial Bankshares’s payout ratio is presently 38.53%.
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About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
Further Reading: What is Cost of Goods Sold (COGS)?
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