First Financial Bankshares, Inc. $FFIN Shares Bought by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC increased its stake in First Financial Bankshares by 10.8%, holding approximately 0.34% of the bank's stock worth $17.4 million.
• First Financial Bankshares reported earnings of $0.47 per share in its latest quarterly results, exceeding the consensus estimate of $0.45.
• The company declared a quarterly dividend of $0.19 per share, representing a 2.4% dividend yield and an annualized payout of $0.76.

Mutual of America Capital Management LLC lifted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 10.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 484,812 shares of the bank's stock after buying an additional 47,118 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.34% of First Financial Bankshares worth $17,444,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FFIN. Fifth Third Bancorp raised its holdings in shares of First Financial Bankshares by 161.5% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in First Financial Bankshares in the first quarter valued at $36,000. Smartleaf Asset Management LLC raised its stake in First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after buying an additional 404 shares in the last quarter. Quarry LP lifted 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 worth $57,000 after buying an additional 1,213 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in First Financial Bankshares by 76.5% during the 1st quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock worth $59,000 after buying an additional 706 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Up 0.6%

Shares of FFIN stock opened at $31.53 on Friday. The company has a market capitalization of $4.51 billion, a P/E ratio of 18.33 and a beta of 0.86. The business's 50 day moving average is $35.07 and its two-hundred day moving average is $35.06. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. As a group, equities analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. First Financial Bankshares's dividend payout ratio is 44.19%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FFIN. Cantor Fitzgerald started coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They set a "neutral" rating and a $39.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Hovde Group lifted their price target on shares of 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $38.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.