Axiom Investors LLC DE Has $12.23 Million Stake 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 during the first quarter and retaining 340,420 shares valued at approximately $12.2 million.
• First Financial Bankshares declared a quarterly dividend of $0.19 per share, with an annualized payout of $0.76 and a dividend yield of 2.1%.
• Recent analyst reports increased the target price for First Financial Bankshares, with a consensus target price now at $39.25, indicating positive sentiment from market analysts.

Axiom Investors LLC DE trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,420 shares of the bank's stock after selling 129,405 shares during the period. Axiom Investors LLC DE owned approximately 0.24% of First Financial Bankshares worth $12,228,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. United Services Automobile Association bought a new stake in shares of First Financial Bankshares in the first quarter valued at about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of First Financial Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank's stock valued at $2,783,000 after buying an additional 3,382 shares during the period. Hancock Whitney Corp bought a new stake in shares of First Financial Bankshares in the first quarter valued at about $549,000. AQR Capital Management LLC lifted its stake in shares of First Financial Bankshares by 51.3% in the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock valued at $4,228,000 after buying an additional 40,173 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of First Financial Bankshares by 10.8% in the first quarter. Royal Bank of Canada now owns 64,287 shares of the bank's stock valued at $2,309,000 after buying an additional 6,290 shares during the period. Institutional investors own 69.78% of the company's stock.

Analysts Set New Price Targets

FFIN has been the subject of several research reports. Hovde Group increased 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. Cantor Fitzgerald initiated coverage on shares of First Financial Bankshares in a research note on Wednesday. They issued a "neutral" rating and a $39.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $39.20.

First Financial Bankshares Trading Down 0.2%

NASDAQ:FFIN traded down $0.08 during mid-day trading on Friday, hitting $36.02. The company's stock had a trading volume of 417,607 shares, compared to its average volume of 490,656. First Financial Bankshares, Inc. has a fifty-two week low of $30.58 and a fifty-two week high of $44.66. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 20.94 and a beta of 0.89. The stock has a fifty day moving average of $36.20 and a 200-day moving average of $35.48.

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

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. First Financial Bankshares's dividend payout ratio (DPR) is presently 44.19%.

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.