Axiom Investors LLC DE Has $12.23 Million Stock Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Axiom Investors LLC DE reduced its stake in First Financial Bankshares, Inc. by 27.5%, selling 129,405 shares and retaining 340,420 shares, valued at approximately $12.2 million.
• Several institutional investors increased their positions significantly, with Ameriprise Financial Inc. boosting its stake by 125.7% and Federated Hermes Inc. by 1,180.5% during the same period, indicating strong interest in the bank's stock.
• First Financial Bankshares announced a quarterly dividend of $0.19, translating to an annualized yield of 2.0%, with a payout ratio of 44.19% and the dividend to be paid on October 1st.

Axiom Investors LLC DE trimmed its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 27.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,420 shares of the bank's stock after selling 129,405 shares during the quarter. Axiom Investors LLC DE owned 0.24% of First Financial Bankshares worth $12,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FFIN. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares in the 1st quarter valued at approximately $26,000. Fifth Third Bancorp increased its stake in shares of First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after acquiring an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of First Financial Bankshares during the first quarter worth $36,000. Smartleaf Asset Management LLC boosted its position in First Financial Bankshares by 47.5% during the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after purchasing an additional 404 shares during the last quarter. Finally, Assetmark Inc. grew its stake in First Financial Bankshares by 76.5% in the first quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock valued at $59,000 after purchasing an additional 706 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Down 1.6%

FFIN stock traded down $0.61 during mid-day trading on Thursday, reaching $37.37. 426,682 shares of the stock traded hands, compared to its average volume of 536,143. The firm has a market capitalization of $5.35 billion, a PE ratio of 21.73 and a beta of 0.87. The business has a 50-day moving average of $36.13 and a two-hundred day moving average of $35.54. First Financial Bankshares, Inc. has a 52 week low of $30.58 and a 52 week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $156.60 million during the quarter, compared to analysts' expectations of $156.41 million. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. First Financial Bankshares's payout ratio is 44.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Hovde Group lifted their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, First Financial Bankshares currently has a consensus rating of "Hold" and an average price target of $39.25.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny bought 5,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the purchase, the director directly owned 108,708 shares in the company, valued at $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.22% of the company's stock.

First Financial Bankshares Company 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.