United Services Automobile Association Makes New $296,000 Investment in First Financial Bankshares, Inc. $FFIN

Key Points

• United Services Automobile Association has acquired a new stake in First Financial Bankshares, Inc., purchasing 8,277 shares valued at approximately $296,000.
• The bank reported a Q2 earnings per share (EPS) of $0.47, exceeding analyst expectations of $0.45, with a revenue of $156.60 million.
• First Financial Bankshares recently declared a quarterly dividend of $0.19 per share, resulting in an annualized dividend yield of 2.1%.

United Services Automobile Association acquired a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,277 shares of the bank's stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. State of Michigan Retirement System grew its position in shares of First Financial Bankshares by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 30,763 shares of the bank's stock worth $1,105,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System grew its position in shares of First Financial Bankshares by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the bank's stock worth $1,293,000 after buying an additional 300 shares during the period. 49 Wealth Management LLC grew its position in shares of First Financial Bankshares by 4.7% during the 4th quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock worth $282,000 after buying an additional 350 shares during the period. KBC Group NV grew its position in shares of First Financial Bankshares by 6.8% during the 1st quarter. KBC Group NV now owns 5,792 shares of the bank's stock worth $208,000 after buying an additional 370 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of First Financial Bankshares by 10.7% during the 1st quarter. Versant Capital Management Inc now owns 3,861 shares of the bank's stock worth $139,000 after buying an additional 374 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Up 1.6%

FFIN traded up $0.57 during trading on Thursday, hitting $35.57. The company's stock had a trading volume of 118,209 shares, compared to its average volume of 527,665. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66. The stock's fifty day moving average price is $36.08 and its 200-day moving average price is $35.44. The firm has a market capitalization of $5.09 billion, a P/E ratio of 20.67 and a beta of 0.89.

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

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, September 15th. First Financial Bankshares's dividend payout ratio (DPR) is presently 44.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FFIN shares. Hovde Group lifted their price objective 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. Cantor Fitzgerald started coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a "neutral" rating and a $39.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $39.20.

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.