Algert Global LLC Invests $361,000 in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Algert Global LLC purchased a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,219 shares of the bank’s stock, valued at approximately $361,000.

A number of other institutional investors have also recently modified their holdings of the business. First Financial Bankshares Inc acquired a new stake in First Financial Bankshares in the fourth quarter valued at $553,577,000. Vanguard Group Inc. lifted its stake in shares of First Financial Bankshares by 3.4% in the first quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after purchasing an additional 490,770 shares during the period. SG Americas Securities LLC boosted its holdings in First Financial Bankshares by 480.0% during the second quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after buying an additional 32,774 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in First Financial Bankshares during the first quarter worth about $1,100,000. Finally, Bridges Investment Management Inc. purchased a new position in First Financial Bankshares in the second quarter valued at about $637,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FFIN has been the topic of several research analyst reports. Stephens boosted their price target on First Financial Bankshares from $31.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. 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, September 20th.

First Financial Bankshares Price Performance

FFIN stock opened at $35.68 on Wednesday. The company’s 50 day simple moving average is $36.14 and its 200-day simple moving average is $32.65. First Financial Bankshares, Inc. has a 12 month low of $22.84 and a 12 month high of $39.53. The firm has a market capitalization of $5.10 billion, a PE ratio of 25.49 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $184.94 million for 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%. As a group, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, September 12th. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

First Financial Bankshares Profile

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.