First Financial Bankshares, Inc. (NASDAQ:FFIN) Position Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 61.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 44,490 shares of the bank’s stock after buying an additional 17,006 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Financial Bankshares were worth $1,604,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in First Financial Bankshares by 27.0% in the third quarter. Thrivent Financial for Lutherans now owns 53,326 shares of the bank’s stock valued at $1,973,000 after acquiring an additional 11,329 shares during the period. Intech Investment Management LLC bought a new stake in shares of First Financial Bankshares in the 3rd quarter worth approximately $673,000. Charles Schwab Investment Management Inc. boosted its position in First Financial Bankshares by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank’s stock valued at $62,961,000 after purchasing an additional 62,538 shares during the period. Citigroup Inc. grew its stake in First Financial Bankshares by 27.0% during the 3rd quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock worth $9,273,000 after buying an additional 53,195 shares during the last quarter. Finally, Algert Global LLC increased its position in First Financial Bankshares by 30.8% in the third quarter. Algert Global LLC now owns 15,979 shares of the bank’s stock worth $591,000 after buying an additional 3,760 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, January 27th.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $35.81 on Friday. First Financial Bankshares, Inc. has a 12-month low of $27.62 and a 12-month high of $44.66. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 22.96 and a beta of 0.78. The business has a 50 day simple moving average of $36.91 and a 200 day simple moving average of $37.72.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.01%. First Financial Bankshares’s payout ratio is 46.15%.

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.