Inspire Investing LLC Acquires 1,043 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Inspire Investing LLC increased its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,516 shares of the bank’s stock after acquiring an additional 1,043 shares during the quarter. Inspire Investing LLC’s holdings in First Financial Bankshares were worth $399,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Financial Bankshares Inc bought a new stake in First Financial Bankshares in the fourth quarter valued at $553,577,000. Vanguard Group Inc. increased its position in First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after buying an additional 490,770 shares in the last quarter. Champlain Investment Partners LLC raised its stake in First Financial Bankshares by 27.6% during the 1st quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock worth $109,400,000 after buying an additional 720,820 shares during the period. Strategic Financial Concepts LLC boosted its holdings in First Financial Bankshares by 3,632.9% in the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock worth $884,000 after acquiring an additional 2,912,718 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in First Financial Bankshares by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after acquiring an additional 130,361 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Trading Down 1.9 %

NASDAQ FFIN opened at $38.10 on Friday. The business has a fifty day simple moving average of $36.08 and a 200 day simple moving average of $32.24. 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 $5.44 billion, a P/E ratio of 27.21 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The company had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. As a group, sell-side 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 will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given 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 dividend yield of 1.89%. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FFIN. Stephens increased their target price 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 lifted their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday.

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.