Intech Investment Management LLC Increases Position in 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 lifted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,081 shares of the bank's stock after purchasing an additional 13,170 shares during the period. Intech Investment Management LLC's holdings in First Financial Bankshares were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Jane Street Group LLC increased its stake in shares of First Financial Bankshares by 484.7% in the 1st quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock valued at $9,038,000 after purchasing an additional 208,573 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of First Financial Bankshares by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank's stock valued at $14,243,000 after purchasing an additional 59,416 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of First Financial Bankshares in the 1st quarter valued at about $1,760,000. United Services Automobile Association purchased a new position in shares of First Financial Bankshares in the 1st quarter valued at about $296,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Financial Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank's stock worth $2,783,000 after buying an additional 3,382 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Down 1.6%

NASDAQ:FFIN opened at $35.43 on Tuesday. The stock's fifty day moving average is $36.17 and its two-hundred day moving average is $35.44. First Financial Bankshares, Inc. has a 52 week low of $30.58 and a 52 week high of $44.66. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 20.60 and a beta of 0.89.

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 for 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 period last year, the firm earned $0.37 earnings per share. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.19 per share. 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 currently 44.19%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FFIN shares. 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 research report on Monday, July 21st. Cantor Fitzgerald began coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They issued a "neutral" rating and a $39.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, First Financial Bankshares has an average rating of "Hold" and an average target price of $39.20.

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.

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