United Services Automobile Association Makes New 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 purchased a new stake 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 Securities and Exchange Commission (SEC). The firm purchased 8,277 shares of the bank's stock, valued at approximately $296,000.

A number of other large investors also recently modified their holdings of FFIN. Investment Research & Advisory Group Inc. acquired a new position in shares of First Financial Bankshares during the first quarter valued at $26,000. Fifth Third Bancorp increased its holdings in shares of 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 period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of First Financial Bankshares during the first quarter valued at $36,000. Smartleaf Asset Management LLC increased its holdings in shares of First Financial Bankshares by 47.5% during the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after purchasing an additional 404 shares during the period. Finally, Quarry LP increased its holdings in shares of First Financial Bankshares by 336.9% during the first quarter. Quarry LP now owns 1,573 shares of the bank's stock valued at $57,000 after purchasing an additional 1,213 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Trading Down 0.2%

Shares of NASDAQ FFIN opened at $36.02 on Friday. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66. The firm has a market capitalization of $5.15 billion, a PE ratio of 20.94 and a beta of 0.89. The business has a 50-day moving average price of $36.20 and a two-hundred day moving average price of $35.48.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $156.41 million. During the same period last year, the company posted $0.37 EPS. Research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared 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. 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 44.19%.

Analyst Upgrades and Downgrades

FFIN has been the topic of a number of research analyst reports. Cantor Fitzgerald began coverage on First Financial Bankshares in a report on Wednesday. They set a "neutral" rating and a $39.00 price target on the stock. 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 note on Monday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on 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. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently 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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