PineBridge Investments L.P. Purchases 310 Shares of First Financial Bankshares Inc. (FFIN)
PineBridge Investments L.P. boosted its stake in shares of First Financial Bankshares Inc. (NASDAQ:FFIN) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,377 shares of the company’s stock after buying an additional 310 shares during the period. PineBridge Investments L.P.’s holdings in First Financial Bankshares were worth $274,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in First Financial Bankshares during the fourth quarter valued at about $16,596,000. BlackRock Institutional Trust Company N.A. increased its stake in First Financial Bankshares by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,623,037 shares of the company’s stock valued at $48,009,000 after buying an additional 29,797 shares in the last quarter. BlackRock Group LTD increased its stake in First Financial Bankshares by 6.8% in the first quarter. BlackRock Group LTD now owns 76,878 shares of the company’s stock valued at $2,273,000 after buying an additional 4,904 shares in the last quarter. Prudential Financial Inc. increased its stake in First Financial Bankshares by 3.1% in the first quarter. Prudential Financial Inc. now owns 157,732 shares of the company’s stock valued at $4,666,000 after buying an additional 4,800 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in First Financial Bankshares during the second quarter valued at about $1,677,000. 45.72% of the stock is currently owned by hedge funds and other institutional investors.
First Financial Bankshares Inc. (NASDAQ:FFIN) opened at 36.97 on Friday. The company has a market cap of $2.42 billion, a PE ratio of 23.70 and a beta of 1.37. First Financial Bankshares Inc. has a one year low of $24.12 and a one year high of $36.99. The stock has a 50 day moving average price of $35.83 and a 200 day moving average price of $32.80.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. First Financial Bankshares had a net margin of 33.05% and a return on equity of 12.55%. On average, equities analysts anticipate that First Financial Bankshares Inc. will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.95%. First Financial Bankshares’s dividend payout ratio is currently 45.57%.
Separately, Zacks Investment Research raised First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.83.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. Through its subsidiaries, the Company conducts commercial banking business. It provides commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-in and night deposit services, safe deposit facilities, remote deposit capture, Internet banking, mobile banking, payroll cards, transmitting funds and other customary commercial banking services.
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