Strs Ohio Makes New Investment in First Financial Bankshares, Inc. $FFIN

Key Points

• Strs Ohio made a new investment in First Financial Bankshares, acquiring 11,200 shares valued at approximately $402,000.
• Several institutions, including Squarepoint Ops LLC and UBS AM, have increased their stakes in First Financial Bankshares, leading to institutional ownership of 69.78%.
• First Financial Bankshares announced a quarterly dividend of $0.19 per share, with an annualized dividend yield of 2.2%, payable on October 1st.

Strs Ohio bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,200 shares of the bank's stock, valued at approximately $402,000.

A number of other institutional investors also recently modified their holdings of FFIN. Squarepoint Ops LLC boosted its stake in First Financial Bankshares by 65.9% during the fourth quarter. Squarepoint Ops LLC now owns 29,807 shares of the bank's stock worth $1,075,000 after acquiring an additional 11,836 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of First Financial Bankshares by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,097 shares of the bank's stock valued at $12,152,000 after purchasing an additional 35,881 shares during the last quarter. GTS Securities LLC purchased a new stake in First Financial Bankshares during the fourth quarter worth about $278,000. Mackenzie Financial Corp purchased a new position in shares of First Financial Bankshares in the fourth quarter worth about $229,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of First Financial Bankshares in the fourth quarter worth about $835,000. 69.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

First Financial Bankshares Trading Down 1.6%

Shares of NASDAQ FFIN opened at $34.32 on Tuesday. The firm has a fifty day simple moving average of $35.95 and a two-hundred day simple moving average of $35.38. The firm has a market capitalization of $4.91 billion, a PE ratio of 19.95 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 released its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. During the same period in the prior year, the firm earned $0.37 EPS. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares's dividend payout ratio is 44.19%.

About First Financial Bankshares

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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