Bridges Investment Management Inc. Grows Stock Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Bridges Investment Management Inc. increased its stake in First Financial Bankshares by 19.8% to 61,871 shares, valued at approximately $2.23 million.
• Several other institutional investors have also raised their stakes, with Ameriprise Financial Inc. leading with a 125.7% increase in shares owned.
• First Financial Bankshares announced a quarterly dividend of $0.19 per share, reflecting a 2.4% yield with a payout ratio of 44.19%.

Bridges Investment Management Inc. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 19.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,871 shares of the bank's stock after buying an additional 10,230 shares during the quarter. Bridges Investment Management Inc.'s holdings in First Financial Bankshares were worth $2,226,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC raised its stake in First Financial Bankshares by 5.9% in the first quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank's stock valued at $104,213,000 after buying an additional 161,991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised 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 buying an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. raised 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 buying an additional 604,648 shares during the last quarter. Nuveen LLC purchased a new stake in First Financial Bankshares in the first quarter valued at about $34,662,000. Finally, Fuller & Thaler Asset Management Inc. raised its stake in First Financial Bankshares by 4.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 953,592 shares of the bank's stock valued at $34,253,000 after buying an additional 37,733 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Hovde Group raised their price objective 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. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective 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, Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Tuesday. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, First Financial Bankshares presently has a consensus rating of "Hold" and an average price target of $39.00.

First Financial Bankshares Stock Down 4.5%

First Financial Bankshares stock opened at $31.34 on Friday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 18.22 and a beta of 0.86. First Financial Bankshares, Inc. has a 52 week low of $30.58 and a 52 week high of $44.66. The business's 50-day moving average price is $35.12 and its 200 day moving average price is $35.09.

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

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, September 15th. First Financial Bankshares's dividend payout ratio (DPR) is 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.

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