State of New Jersey Common Pension Fund D lessened its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 10.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,707 shares of the bank’s stock after selling 6,641 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Financial Bankshares were worth $2,652,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in FFIN. Advisory Services Network LLC acquired a new stake in First Financial Bankshares in the 2nd quarter valued at about $64,000. Van ECK Associates Corp lifted its holdings in First Financial Bankshares by 144.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,718 shares of the bank’s stock valued at $84,000 after acquiring an additional 1,016 shares during the last quarter. Toronto Dominion Bank lifted its holdings in First Financial Bankshares by 46.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,762 shares of the bank’s stock valued at $87,000 after acquiring an additional 561 shares during the last quarter. PNC Managed Account Solutions Inc. acquired a new stake in First Financial Bankshares in the 2nd quarter valued at about $112,000. Finally, Mackenzie Financial Corp acquired a new stake in First Financial Bankshares in the 2nd quarter valued at about $218,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.
Separately, Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, December 14th.
NASDAQ FFIN opened at $51.51 on Thursday. The stock has a 50 day moving average of $51.40. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 31.99 and a beta of 0.87. First Financial Bankshares, Inc. has a 52-week low of $35.17 and a 52-week high of $55.00.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Wednesday, October 20th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $137.18 million during the quarter, compared to analyst estimates of $128.97 million. First Financial Bankshares had a net margin of 44.72% and a return on equity of 13.57%. On average, analysts anticipate that First Financial Bankshares, Inc. will post 1.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Thursday, December 16th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, December 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.16%. First Financial Bankshares’s dividend payout ratio is currently 37.27%.
In related news, Director Johnny Trotter purchased 1,000 shares of the stock in a transaction on Wednesday, December 15th. The shares were bought at an average price of $50.22 per share, for a total transaction of $50,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Scott Dueser sold 40,000 shares of the stock in a transaction that occurred on Tuesday, December 14th. The shares were sold at an average price of $50.74, for a total value of $2,029,600.00. The disclosure for this sale can be found here. Insiders purchased 2,274 shares of company stock worth $115,113 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.
About First Financial Bankshares
First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.
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