Intech Investment Management LLC Acquires 13,170 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Intech Investment Management LLC increased its position in First Financial Bankshares, Inc. by 28.7% in the first quarter, owning a total of 59,081 shares worth approximately $2.12 million.
• First Financial Bankshares reported earnings per share of $0.47 for the last quarter, surpassing expectations of $0.45, and announced a quarterly dividend of $0.19 per share scheduled for payment in October.
• Several analysts raised their price targets for the stock, with an average target now set at $39.20, while the current stock price is around $35.43.

Intech Investment Management LLC boosted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 28.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,081 shares of the bank's stock after acquiring an additional 13,170 shares during the quarter. Intech Investment Management LLC's holdings in First Financial Bankshares were worth $2,122,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in First Financial Bankshares during the first quarter worth approximately $34,662,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of First Financial Bankshares by 36.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank's stock worth $88,571,000 after purchasing an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of First Financial Bankshares by 125.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank's stock valued at $38,993,000 after acquiring an additional 604,648 shares during the period. Jane Street Group LLC grew its stake in shares of First Financial Bankshares by 484.7% in the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock valued at $9,038,000 after buying an additional 208,573 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in First Financial Bankshares by 175.7% in the first quarter. Panagora Asset Management Inc. now owns 270,589 shares of the bank's stock valued at $9,720,000 after acquiring an additional 172,453 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Down 2.7%

FFIN traded down $0.95 on Friday, hitting $34.87. 1,480,699 shares of the company traded hands, compared to its average volume of 471,116. The company has a 50 day moving average of $36.01 and a 200-day moving average of $35.41. The stock has a market capitalization of $4.99 billion, a PE ratio of 20.27 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.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million during the quarter, compared to analysts' expectations of $156.41 million. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. During the same quarter last year, the company earned $0.37 earnings per share. On average, research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 2.2%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares's payout ratio is currently 44.19%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Hovde Group lifted their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Cantor Fitzgerald initiated coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a "neutral" rating and a $39.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective 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. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, First Financial Bankshares has a consensus rating of "Hold" and an average target price 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.