Helen Stephens Group LLC Decreases Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Helen Stephens Group LLC reduced its holdings in First Financial Bankshares by 31.2%, selling 8,000 shares in the 2nd quarter, leaving them with 17,630 shares valued at $634,000.
• First Financial Bankshares reported quarterly earnings of $0.47 EPS, surpassing analysts' expectations of $0.45, with revenue of $156.60 million.
• The company announced a quarterly dividend of $0.19 per share, scheduled for payment on October 1st, representing an annualized dividend yield of 2.1%.

Helen Stephens Group LLC cut its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 31.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,630 shares of the bank's stock after selling 8,000 shares during the quarter. Helen Stephens Group LLC's holdings in First Financial Bankshares were worth $634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of Michigan Retirement System increased its position in shares of First Financial Bankshares by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 30,763 shares of the bank's stock worth $1,105,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in First Financial Bankshares by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the bank's stock valued at $1,293,000 after acquiring an additional 300 shares during the period. 49 Wealth Management LLC boosted its holdings in First Financial Bankshares by 4.7% during the 4th quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock valued at $282,000 after acquiring an additional 350 shares during the period. KBC Group NV boosted its holdings in First Financial Bankshares by 6.8% during the 1st quarter. KBC Group NV now owns 5,792 shares of the bank's stock valued at $208,000 after acquiring an additional 370 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in First Financial Bankshares by 10.7% during the 1st quarter. Versant Capital Management Inc now owns 3,861 shares of the bank's stock valued at $139,000 after acquiring an additional 374 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on FFIN. 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 for the company. Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Finally, Hovde Group raised their target price 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. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, First Financial Bankshares currently has an average rating of "Hold" and an average target price of $39.20.

First Financial Bankshares Stock Performance

Shares of FFIN traded up $0.59 during midday trading on Thursday, hitting $35.59. The company had a trading volume of 195,410 shares, compared to its average volume of 528,100. The company's 50-day simple moving average is $36.08 and its 200-day simple moving average is $35.44. The firm has a market capitalization of $5.09 billion, a P/E ratio of 20.68 and a beta of 0.89. First Financial Bankshares, Inc. has a 1 year low of $30.58 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to analysts' expectations 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 last year, the business posted $0.37 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.1%. First Financial Bankshares's payout ratio is presently 44.19%.

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.