Cetera Investment Advisers Cuts Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Cetera Investment Advisers lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,429 shares of the bank’s stock after selling 2,283 shares during the period. Cetera Investment Advisers’ holdings in First Financial Bankshares were worth $1,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in First Financial Bankshares in the 2nd quarter worth about $118,000. Quarry LP acquired a new stake in First Financial Bankshares in the 2nd quarter worth about $83,000. Creative Planning boosted its holdings in First Financial Bankshares by 24.2% in the 2nd quarter. Creative Planning now owns 43,904 shares of the bank’s stock worth $1,296,000 after buying an additional 8,561 shares during the last quarter. Algert Global LLC acquired a new stake in First Financial Bankshares in the 2nd quarter worth about $361,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in First Financial Bankshares by 0.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 156,245 shares of the bank’s stock worth $4,614,000 after buying an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

FFIN stock opened at $38.75 on Thursday. The firm has a market cap of $5.54 billion, a PE ratio of 27.68 and a beta of 0.78. The firm’s 50 day moving average price is $36.29 and its 200-day moving average price is $32.90. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. Equities research analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, September 12th. First Financial Bankshares’s payout ratio is 51.43%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stephens lifted 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. 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 report on Friday, September 20th.

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.