Cwm LLC Buys 89,970 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Cwm LLC increased its holdings in First Financial Bankshares by 193.9% during Q2, acquiring an additional 89,970 shares, bringing its total to 136,374 shares valued at approximately $4.9 million.
• First Financial Bankshares reported $0.47 earnings per share for the latest quarter, exceeding analyst expectations, while also announcing a quarterly dividend of $0.19 per share.
• Multiple analysts have raised their price targets for First Financial Bankshares, with an average target now set at $39.00, and the stock is currently rated as a "Hold" among several financial analysts.

Cwm LLC boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 193.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,374 shares of the bank's stock after purchasing an additional 89,970 shares during the period. Cwm LLC owned about 0.10% of First Financial Bankshares worth $4,907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FFIN. Fifth Third Bancorp increased its holdings in First Financial Bankshares by 161.5% during the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after purchasing an additional 441 shares during the period. Investment Research & Advisory Group Inc. purchased a new position in First Financial Bankshares during the 1st quarter valued at about $26,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in First Financial Bankshares during the 1st quarter valued at about $36,000. Smartleaf Asset Management LLC increased its holdings in First Financial Bankshares by 47.5% during the 1st 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 period. Finally, Quarry LP increased its holdings in First Financial Bankshares by 336.9% during the 1st quarter. Quarry LP now owns 1,573 shares of the bank's stock valued at $57,000 after purchasing an additional 1,213 shares during the period. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Performance

FFIN stock opened at $32.83 on Thursday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 19.09 and a beta of 0.86. The business's 50 day moving average price is $35.16 and its two-hundred day moving average price is $35.12. First Financial Bankshares, Inc. has a fifty-two week low of $30.58 and a fifty-two week high of $44.66.

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 for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $156.60 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.37 EPS. Sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

FFIN has been the topic of a number of research analyst reports. Hovde Group boosted their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of First Financial Bankshares in a report on Tuesday. Finally, Cantor Fitzgerald began coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a "neutral" rating and a $39.00 target price on the stock. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average 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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