21,570 Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,570 shares of the bank’s stock, valued at approximately $637,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in First Financial Bankshares by 5.0% in the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after acquiring an additional 270 shares during the period. Crewe Advisors LLC increased its position in First Financial Bankshares by 6.0% in the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after acquiring an additional 296 shares during the period. SYSTM Wealth Solutions LLC increased its position in 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 acquiring an additional 398 shares during the period. Hexagon Capital Partners LLC increased its position in First Financial Bankshares by 81.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after acquiring an additional 415 shares during the period. Finally, Retirement Systems of Alabama increased its position in First Financial Bankshares by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock valued at $5,292,000 after acquiring an additional 426 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FFIN. Stephens upped their price target on shares of First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday.

First Financial Bankshares Stock Down 1.9 %

FFIN opened at $38.10 on Friday. First Financial Bankshares, Inc. has a twelve month low of $22.84 and a twelve month high of $39.53. The company has a fifty day moving average of $36.08 and a 200-day moving average of $32.24. The stock has a market cap of $5.44 billion, a PE ratio of 27.21 and a beta of 0.78.

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

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio is presently 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.