NGAM Advisors L.P. raised its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 68,394 shares of the bank’s stock after buying an additional 2,840 shares during the period. NGAM Advisors L.P.’s holdings in First Financial Bankshares were worth $3,023,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC increased its position in shares of First Financial Bankshares by 20.6% in the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock valued at $121,000 after buying an additional 516 shares during the period. Victory Capital Management Inc. increased its position in shares of First Financial Bankshares by 26.8% in the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock valued at $141,000 after buying an additional 743 shares during the period. Bank of Montreal Can increased its position in shares of First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock valued at $207,000 after buying an additional 426 shares during the period. Strs Ohio increased its position in shares of First Financial Bankshares by 6.4% in the second quarter. Strs Ohio now owns 5,000 shares of the bank’s stock valued at $221,000 after buying an additional 300 shares during the period. Finally, OppenheimerFunds Inc. acquired a new position in shares of First Financial Bankshares during the first quarter valued at approximately $270,000. 49.89% of the stock is currently owned by institutional investors.

Shares of First Financial Bankshares, Inc. (NASDAQ FFIN) opened at 40.75 on Friday. First Financial Bankshares, Inc. has a 52 week low of $34.17 and a 52 week high of $46.70. The stock has a market capitalization of $2.68 billion, a PE ratio of 25.12 and a beta of 1.34. The company’s 50 day moving average price is $43.00 and its 200-day moving average price is $41.51.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. First Financial Bankshares had a return on equity of 12.41% and a net margin of 33.03%. The firm had revenue of $82.25 million during the quarter, compared to analysts’ expectations of $87.11 million. During the same period in the previous year, the firm posted $0.41 EPS. First Financial Bankshares’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that First Financial Bankshares, Inc. will post $1.70 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.76 annualized dividend and a yield of 1.87%. First Financial Bankshares’s payout ratio is 46.91%.

First Financial Bankshares announced that its Board of Directors has initiated a share buyback program on Tuesday, July 25th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several brokerages have commented on FFIN. Stephens reaffirmed a “hold” rating on shares of First Financial Bankshares in a research report on Monday, April 24th. Piper Jaffray Companies reiterated a “hold” rating and issued a $41.00 target price on shares of First Financial Bankshares in a report on Friday, July 21st. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Friday, June 9th. BidaskClub cut First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods upgraded First Financial Bankshares from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $37.00 to $38.00 in a report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.00.

In other First Financial Bankshares news, Director David L. Copeland sold 684 shares of First Financial Bankshares stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $38.00, for a total transaction of $25,992.00. Following the completion of the sale, the director now directly owns 33,379 shares of the company’s stock, valued at approximately $1,268,402. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald N. Giddiens sold 1,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $41.00, for a total value of $41,000.00. Following the sale, the director now directly owns 13,816 shares of the company’s stock, valued at $566,456. The disclosure for this sale can be found here. Insiders own 5.04% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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