California Public Employees Retirement System Decreases Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

California Public Employees Retirement System lessened its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,038 shares of the bank’s stock after selling 11,529 shares during the period. California Public Employees Retirement System owned 0.16% of First Financial Bankshares worth $6,788,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FFIN. CWM LLC grew its position in shares of First Financial Bankshares by 146.3% in the fourth quarter. CWM LLC now owns 26,839 shares of the bank’s stock valued at $813,000 after purchasing an additional 15,943 shares in the last quarter. Signaturefd LLC boosted its stake in First Financial Bankshares by 101.3% during the fourth quarter. Signaturefd LLC now owns 5,386 shares of the bank’s stock worth $163,000 after buying an additional 2,710 shares during the last quarter. Lindbrook Capital LLC grew its holdings in First Financial Bankshares by 134.8% in the 4th quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock valued at $28,000 after buying an additional 523 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Financial Bankshares by 19.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,988 shares of the bank’s stock worth $1,000,000 after acquiring an additional 5,275 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in shares of First Financial Bankshares during the 4th quarter worth $1,094,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 0.6 %

Shares of NASDAQ:FFIN opened at $30.76 on Friday. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 21.97 and a beta of 0.83. First Financial Bankshares, Inc. has a 12-month low of $22.84 and a 12-month high of $33.15. The business has a 50-day moving average price of $30.88 and a 200 day moving average price of $29.22.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $129.63 million during the quarter, compared to analysts’ expectations of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 1.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Stephens dropped their price target on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.33.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 1,500 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $30.22 per share, for a total transaction of $45,330.00. Following the completion of the purchase, the director now directly owns 940,371 shares of the company’s stock, valued at $28,418,011.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders purchased 3,177 shares of company stock worth $95,834. Insiders own 4.22% of the company’s stock.

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.