Victory Capital Management Inc. Grows Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Victory Capital Management Inc. grew its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 28.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,965 shares of the bank’s stock after acquiring an additional 8,784 shares during the quarter. Victory Capital Management Inc.’s holdings in First Financial Bankshares were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FFIN. Olistico Wealth LLC purchased a new position in shares of First Financial Bankshares in the 2nd quarter valued at about $29,000. Hexagon Capital Partners LLC grew its stake in First Financial Bankshares by 81.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of First Financial Bankshares in the 2nd quarter valued at approximately $41,000. SYSTM Wealth Solutions LLC grew its stake in shares of First Financial Bankshares by 17.4% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after purchasing an additional 398 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of First Financial Bankshares by 128.9% in the 4th quarter. Quadrant Capital Group LLC now owns 4,888 shares of the bank’s stock valued at $148,000 after purchasing an additional 2,753 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

FFIN opened at $38.84 on Friday. The business has a 50 day simple moving average of $35.93 and a 200-day simple moving average of $32.19. The stock has a market capitalization of $5.55 billion, a P/E ratio of 27.74 and a beta of 0.78. First Financial Bankshares, Inc. has a 12 month low of $22.84 and a 12 month high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. Research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens lifted their target price on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Truist Financial lifted their target price on First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th.

About First Financial Bankshares

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.