TIAA CREF Investment Management LLC reduced its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,272 shares of the bank’s stock after selling 10,736 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.30% of First Financial Bankshares worth $7,951,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in FFIN. LS Investment Advisors LLC increased its stake in First Financial Bankshares by 20.6% in the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock worth $121,000 after buying an additional 516 shares in the last quarter. Victory Capital Management Inc. increased its stake in First Financial Bankshares by 26.8% in the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock worth $141,000 after buying an additional 743 shares in the last quarter. Bank of Montreal Can increased its stake in First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock worth $207,000 after buying an additional 426 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in First Financial Bankshares during the fourth quarter worth $251,000. Finally, AQR Capital Management LLC increased its stake in First Financial Bankshares by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 6,041 shares of the bank’s stock worth $273,000 after buying an additional 70 shares in the last quarter. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) traded up 0.82% during trading on Friday, reaching $43.10. 162,715 shares of the company were exchanged. The firm’s 50 day moving average is $42.84 and its 200 day moving average is $41.48. The firm has a market capitalization of $2.83 billion, a P/E ratio of 26.57 and a beta of 1.34. First Financial Bankshares, Inc. has a 1-year low of $33.41 and a 1-year high of $46.70.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $82.25 million for the quarter, compared to analyst estimates of $87.11 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post $1.70 EPS for the current fiscal year.

First Financial Bankshares announced that its board has approved a share buyback program on Tuesday, July 25th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.76%. First Financial Bankshares’s payout ratio is 46.91%.

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A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, July 26th. Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Wednesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $41.00 price target on shares of First Financial Bankshares in a research note on Friday, July 21st. BidaskClub upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Keefe, Bruyette & Woods upgraded shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $37.00 to $38.00 in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.00.

In other news, Director David L. Copeland sold 684 shares of the business’s 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 sale, the director now owns 33,379 shares in the company, valued at $1,268,402. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald N. Giddiens sold 1,000 shares of the business’s 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 owns 13,816 shares in the company, valued at approximately $566,456. The disclosure for this sale can be found here. Insiders have bought 1,730 shares of company stock worth $67,009 in the last 90 days. Insiders own 5.04% of the company’s stock.

About First Financial Bankshares

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.

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

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