State of New Jersey Common Pension Fund D Trims Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

State of New Jersey Common Pension Fund D reduced its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,355 shares of the bank’s stock after selling 29,374 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Financial Bankshares were worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its position in First Financial Bankshares by 32.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,298 shares of the bank’s stock valued at $373,000 after buying an additional 3,024 shares during the last quarter. Norges Bank purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $42,435,000. UBS Group AG increased its stake in shares of First Financial Bankshares by 98.5% during the fourth quarter. UBS Group AG now owns 239,068 shares of the bank’s stock worth $7,244,000 after acquiring an additional 118,623 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in First Financial Bankshares by 6.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 51,388 shares of the bank’s stock worth $1,557,000 after purchasing an additional 3,001 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in First Financial Bankshares in the fourth quarter valued at about $1,209,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

FFIN has been the topic of several recent analyst reports. Truist Financial boosted their target price on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday. Stephens upped their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th.

First Financial Bankshares Trading Up 0.1 %

Shares of First Financial Bankshares stock opened at $38.12 on Tuesday. The company has a 50-day moving average of $36.19 and a two-hundred day moving average of $32.28. First Financial Bankshares, Inc. has a 12-month low of $22.84 and a 12-month high of $39.53. The stock has a market cap of $5.45 billion, a PE ratio of 27.23 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The firm had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 annualized dividend and a yield of 1.89%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 51.43%.

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.