Teacher Retirement System of Texas Cuts Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Teacher Retirement System of Texas lowered its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,903 shares of the bank's stock after selling 8,587 shares during the quarter. Teacher Retirement System of Texas' holdings in First Financial Bankshares were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Investment Research & Advisory Group Inc. bought a new position in First Financial Bankshares during the first quarter valued at $26,000. Fifth Third Bancorp lifted its position in First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after purchasing an additional 441 shares during the last quarter. Assetmark Inc. bought a new stake in shares of First Financial Bankshares in the 4th quarter worth about $33,000. UMB Bank n.a. lifted its holdings in shares of First Financial Bankshares by 245.6% in the 1st quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after acquiring an additional 1,353 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of First Financial Bankshares by 89.9% in the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after acquiring an additional 912 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Down 1.9%

FFIN stock traded down $0.71 during trading on Friday, hitting $36.73. The company had a trading volume of 350,627 shares, compared to its average volume of 531,064. The firm has a market capitalization of $5.25 billion, a P/E ratio of 22.67 and a beta of 0.87. First Financial Bankshares, Inc. has a 52-week low of $30.58 and a 52-week high of $44.66. The company has a 50 day simple moving average of $35.85 and a 200-day simple moving average of $35.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. Sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a dividend of $0.19 per share. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.07%. First Financial Bankshares's dividend payout ratio (DPR) is 46.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Hovde Group lowered their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were acquired at an average price of $36.02 per share, with a total value of $180,100.00. Following the transaction, the director owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 6,399 shares of company stock worth $227,646. Company insiders own 4.22% of the company's stock.

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.