NFJ Investment Group LLC Lowers Position in First Financial Bankshares, Inc. $FFIN

Key Points

• NFJ Investment Group LLC reduced its holdings in First Financial Bankshares by 3.3%, now owning approximately 0.40% of the company, worth $20.3 million.
• A number of large investors have recently made significant changes to their positions, with hedge funds and institutional investors owning 69.78% of the company's stock.
• First Financial Bankshares announced a quarterly dividend of $0.19, scheduled for payment on October 1st, representing a 2.0% yield based on its current stock price.

NFJ Investment Group LLC trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 565,184 shares of the bank's stock after selling 19,236 shares during the quarter. NFJ Investment Group LLC owned about 0.40% of First Financial Bankshares worth $20,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of First Financial Bankshares during the fourth quarter valued at approximately $384,000. Algert Global LLC lifted its position in First Financial Bankshares by 68.9% in the 4th quarter. Algert Global LLC now owns 26,994 shares of the bank's stock valued at $973,000 after acquiring an additional 11,015 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in First Financial Bankshares by 1.9% during the 4th quarter. Ameriprise Financial Inc. now owns 480,869 shares of the bank's stock valued at $17,338,000 after purchasing an additional 8,787 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in First Financial Bankshares by 269.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 91,869 shares of the bank's stock valued at $3,312,000 after purchasing an additional 67,009 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of First Financial Bankshares by 1,719.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank's stock worth $7,552,000 after purchasing an additional 197,986 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FFIN shares. Hovde Group upped 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 shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.25.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the transaction, the director owned 108,708 shares of the company's stock, valued at $3,915,662.16. This represents a 4.82% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.22% of the company's stock.

First Financial Bankshares Price Performance

Shares of FFIN traded down $0.66 during trading hours on Tuesday, hitting $36.08. The stock had a trading volume of 356,724 shares, compared to its average volume of 531,007. The firm has a market capitalization of $5.16 billion, a PE ratio of 20.98 and a beta of 0.89. First Financial Bankshares, Inc. has a 12 month low of $30.58 and a 12 month high of $44.66. The stock has a fifty day moving average price of $36.32 and a 200 day moving average price of $35.49.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates 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 company earned $0.37 earnings per share. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. First Financial Bankshares's dividend payout ratio (DPR) 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.