Cubist Systematic Strategies LLC Cuts Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in First Financial Bankshares, Inc. by 33.8%, owning 138,782 shares valued at approximately $4.98 million after selling 70,716 shares in the first quarter.
• First Financial Bankshares announced a quarterly dividend of $0.19 per share, with an annualized dividend of $0.76 and a yield of 2.1%, payable on October 1st.
• The bank reported a quarterly earnings per share (EPS) of $0.47, exceeding estimates of $0.45, and had a return on equity of 14.69%.

Cubist Systematic Strategies LLC decreased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,782 shares of the bank's stock after selling 70,716 shares during the period. Cubist Systematic Strategies LLC owned 0.10% of First Financial Bankshares worth $4,985,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in First Financial Bankshares by 65.9% during the fourth quarter. Squarepoint Ops LLC now owns 29,807 shares of the bank's stock worth $1,075,000 after buying an additional 11,836 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Financial Bankshares by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,097 shares of the bank's stock worth $12,152,000 after buying an additional 35,881 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in First Financial Bankshares during the fourth quarter worth $835,000. GAMMA Investing LLC increased its position in First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after buying an additional 912 shares in the last quarter. Finally, GTS Securities LLC purchased a new position in First Financial Bankshares during the fourth quarter worth $278,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Down 0.4%

FFIN stock opened at $36.61 on Thursday. First Financial Bankshares, Inc. has a 52-week low of $30.58 and a 52-week high of $44.66. The stock's fifty day simple moving average is $36.28 and its 200-day simple moving average is $35.52. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 21.29 and a beta of 0.89.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $156.41 million. During the same quarter last year, the firm earned $0.37 earnings per share. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, September 15th. First Financial Bankshares's payout ratio is currently 44.19%.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares in the company, valued at $3,915,662.16. The trade was a 4.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.96% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FFIN has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Hovde Group raised their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Four research 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 a consensus target price of $39.25.

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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