Avalon Investment & Advisory decreased its position in First Financial Bankshares Inc (NASDAQ:FFIN) by 20.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,390 shares of the bank’s stock after selling 17,463 shares during the quarter. Avalon Investment & Advisory’s holdings in First Financial Bankshares were worth $1,947,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of First Financial Bankshares by 50.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,687 shares of the bank’s stock valued at $58,000 after buying an additional 565 shares during the period. Mutual Advisors LLC raised its holdings in shares of First Financial Bankshares by 3.1% during the second quarter. Mutual Advisors LLC now owns 21,059 shares of the bank’s stock valued at $608,000 after purchasing an additional 633 shares during the last quarter. Smart Money Group LLC increased its holdings in First Financial Bankshares by 1.1% during the second quarter. Smart Money Group LLC now owns 65,322 shares of the bank’s stock valued at $1,887,000 after buying an additional 710 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in First Financial Bankshares by 3.5% during the first quarter. Virginia Retirement Systems ET AL now owns 23,500 shares of the bank’s stock valued at $631,000 after buying an additional 800 shares during the last quarter. Finally, Cetera Advisors LLC increased its stake in shares of First Financial Bankshares by 7.4% in the first quarter. Cetera Advisors LLC now owns 18,318 shares of the bank’s stock worth $492,000 after purchasing an additional 1,264 shares in the last quarter. 49.29% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:FFIN traded down $0.29 during trading hours on Thursday, hitting $30.66. The company’s stock had a trading volume of 8,247 shares, compared to its average volume of 344,484. The business’s 50-day moving average is $29.66 and its two-hundred day moving average is $29.08. The company has a market capitalization of $4.39 billion, a PE ratio of 24.53 and a beta of 1.00. First Financial Bankshares Inc has a 52-week low of $20.70 and a 52-week high of $36.45.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The firm had revenue of $129.06 million for the quarter, compared to analyst estimates of $111.90 million. First Financial Bankshares had a return on equity of 12.65% and a net margin of 37.70%. On average, research analysts anticipate that First Financial Bankshares Inc will post 1.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Wednesday, September 16th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.70%. First Financial Bankshares’s payout ratio is 42.98%.
In other news, Director David L. Copeland sold 20,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $33.61, for a total transaction of $672,200.00. Following the transaction, the director now owns 69,844 shares of the company’s stock, valued at approximately $2,347,456.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.44% of the company’s stock.
FFIN has been the subject of a number of research reports. BidaskClub upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. SunTrust Banks increased their target price on shares of First Financial Bankshares from $27.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, TheStreet raised shares of First Financial Bankshares from a “c+” rating to a “b-” rating in a research report on Tuesday, June 9th. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $30.75.
First Financial Bankshares Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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