Truist Financial Corp boosted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,278 shares of the bank’s stock after purchasing an additional 9,661 shares during the quarter. Truist Financial Corp’s holdings in First Financial Bankshares were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in FFIN. Alliancebernstein L.P. raised its stake in First Financial Bankshares by 528.2% in the fourth quarter. Alliancebernstein L.P. now owns 2,223,131 shares of the bank’s stock valued at $80,422,000 after purchasing an additional 1,869,253 shares in the last quarter. BlackRock Inc. grew its position in First Financial Bankshares by 1.4% during the fourth quarter. BlackRock Inc. now owns 15,552,657 shares of the bank’s stock valued at $562,617,000 after acquiring an additional 222,066 shares during the last quarter. Morgan Stanley grew its position in First Financial Bankshares by 171.0% during the fourth quarter. Morgan Stanley now owns 205,176 shares of the bank’s stock valued at $7,422,000 after acquiring an additional 129,473 shares during the last quarter. Credit Suisse AG grew its position in First Financial Bankshares by 72.1% during the fourth quarter. Credit Suisse AG now owns 253,727 shares of the bank’s stock valued at $9,179,000 after acquiring an additional 106,308 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in First Financial Bankshares by 109.3% during the third quarter. Cubist Systematic Strategies LLC now owns 158,222 shares of the bank’s stock valued at $4,416,000 after acquiring an additional 82,630 shares during the last quarter. 48.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Financial Bankshares stock opened at $46.03 on Wednesday. First Financial Bankshares, Inc. has a 52-week low of $23.44 and a 52-week high of $51.60. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 35.14 and a beta of 0.96. The company’s 50 day moving average price is $47.30 and its 200-day moving average price is $38.23.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Wednesday, January 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. First Financial Bankshares had a net margin of 38.10% and a return on equity of 12.42%. The firm had revenue of $129.60 million for the quarter, compared to analysts’ expectations of $131.00 million. Analysts forecast that First Financial Bankshares, Inc. will post 1.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Tuesday, March 16th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, March 15th. First Financial Bankshares’s dividend payout ratio is 42.98%.
A number of research analysts have commented on FFIN shares. Truist increased their price target on shares of First Financial Bankshares from $40.00 to $47.00 in a research report on Monday, March 8th. Zacks Investment Research upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Friday, April 2nd.
First Financial Bankshares Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, 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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