Ameriprise Financial Inc. boosted its stake in First Financial Bankshares Inc. (NASDAQ:FFIN) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 319,952 shares of the company’s stock after buying an additional 11,901 shares during the period. Ameriprise Financial Inc. owned about 0.49% of First Financial Bankshares worth $10,491,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. NEXT Financial Group Inc raised its position in First Financial Bankshares by 460.3% in the second quarter. NEXT Financial Group Inc now owns 3,412 shares of the company’s stock valued at $111,000 after buying an additional 2,803 shares during the last quarter. BlackRock Inc. raised its position in First Financial Bankshares by 124.8% in the first quarter. BlackRock Inc. now owns 4,291 shares of the company’s stock valued at $126,000 after buying an additional 2,382 shares during the last quarter. Strs Ohio raised its position in First Financial Bankshares by 38.7% in the second quarter. Strs Ohio now owns 4,300 shares of the company’s stock valued at $140,000 after buying an additional 1,200 shares during the last quarter. Bank of Montreal Can bought a new position in First Financial Bankshares during the second quarter valued at about $149,000. Finally, BB&T Securities LLC bought a new position in First Financial Bankshares during the first quarter valued at about $352,000. 45.72% of the stock is owned by hedge funds and other institutional investors.
First Financial Bankshares Inc. (NASDAQ:FFIN) traded up 2.33% during trading on Friday, reaching $36.44. The company’s stock had a trading volume of 199,183 shares. First Financial Bankshares Inc. has a 12 month low of $24.12 and a 12 month high of $37.06. The company’s 50-day moving average is $36.03 and its 200-day moving average is $33.11. The stock has a market cap of $2.39 billion, a PE ratio of 23.36 and a beta of 1.37.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, July 21st. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. First Financial Bankshares had a return on equity of 12.55% and a net margin of 33.05%. Equities analysts expect that First Financial Bankshares Inc. will post $1.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.98%. First Financial Bankshares’s payout ratio is currently 45.57%.
Separately, Zacks Investment Research upgraded First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price 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.
Receive News & Ratings for First Financial Bankshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.