Point72 DIFC Ltd Buys New Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Point72 DIFC Ltd purchased a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,284 shares of the bank’s stock, valued at approximately $97,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its holdings in shares of 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 purchasing an additional 415 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares in the second quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in First Financial Bankshares during the 2nd quarter worth approximately $41,000. SYSTM Wealth Solutions LLC boosted its holdings 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 worth $88,000 after acquiring an additional 398 shares during the period. Finally, Quarry LP acquired a new stake in First Financial Bankshares in the second quarter valued at approximately $83,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FFIN. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. 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 research note on Friday, July 19th.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $36.17 on Wednesday. First Financial Bankshares, Inc. has a 1 year low of $22.84 and a 1 year high of $39.53. The business’s fifty day moving average is $36.34 and its 200-day moving average is $32.51. The stock has a market cap of $5.17 billion, a PE ratio of 25.84 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued 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 during the quarter, compared to the consensus estimate of $134.10 million. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, September 12th. First Financial Bankshares’s payout ratio is 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.