Avior Wealth Management LLC Has $856,000 Stock Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• Avior Wealth Management LLC increased its stake in First Financial Bankshares by 57.4%, owning 23,800 shares valued at $856,000.
• First Financial Bankshares recently announced a quarterly dividend of $0.19 per share, which translates to an annualized dividend yield of 2.3%.
• Several analysts have adjusted their price targets for First Financial Bankshares, with an average consensus price target of $39.00, reflecting a market perform rating.

Avior Wealth Management LLC lifted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 57.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,800 shares of the bank's stock after purchasing an additional 8,678 shares during the period. Avior Wealth Management LLC's holdings in First Financial Bankshares were worth $856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of First Financial Bankshares during the first quarter valued at $34,662,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in First Financial Bankshares by 36.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank's stock valued at $88,571,000 after purchasing an additional 652,575 shares in the last quarter. Ameriprise Financial Inc. grew its stake in First Financial Bankshares by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank's stock valued at $38,993,000 after purchasing an additional 604,648 shares in the last quarter. Jane Street Group LLC grew its stake in First Financial Bankshares by 484.7% in the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock valued at $9,038,000 after purchasing an additional 208,573 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in First Financial Bankshares by 175.7% in the first quarter. Panagora Asset Management Inc. now owns 270,589 shares of the bank's stock valued at $9,720,000 after purchasing an additional 172,453 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Down 1.0%

Shares of NASDAQ:FFIN opened at $33.77 on Tuesday. The business has a 50 day moving average price of $35.69 and a 200 day moving average price of $35.34. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 19.63 and a beta of 0.89.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the prior year, the company earned $0.37 EPS. Analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.3%. First Financial Bankshares's dividend payout ratio is 44.19%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FFIN. Hovde Group upped their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald began coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $39.00 price target for the company. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $39.00.

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.

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