First Financial Bankshares Inc (FFIN) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System trimmed its stake in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 9.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,593 shares of the bank’s stock after selling 10,803 shares during the period. California State Teachers Retirement System owned 0.15% of First Financial Bankshares worth $4,592,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in First Financial Bankshares by 1.3% during the second quarter. Vanguard Group Inc. now owns 5,827,897 shares of the bank’s stock valued at $257,594,000 after acquiring an additional 77,503 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of First Financial Bankshares by 37.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,396,940 shares of the bank’s stock worth $63,142,000 after buying an additional 383,924 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Financial Bankshares by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,840 shares of the bank’s stock worth $51,475,000 after buying an additional 60,011 shares in the last quarter. Northern Trust Corp grew its stake in shares of First Financial Bankshares by 2.6% in the 2nd quarter. Northern Trust Corp now owns 827,438 shares of the bank’s stock worth $36,573,000 after buying an additional 20,741 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of First Financial Bankshares by 2.4% in the 2nd quarter. Principal Financial Group Inc. now owns 540,545 shares of the bank’s stock worth $23,892,000 after buying an additional 12,854 shares in the last quarter. 51.37% of the stock is owned by institutional investors.
A number of brokerages have commented on FFIN. BidaskClub cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 price objective on shares of First Financial Bankshares in a research note on Friday, October 20th. Six analysts have rated the stock with a hold rating, First Financial Bankshares has a consensus rating of “Hold” and an average target price of $43.40.
First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $83.95 million during the quarter, compared to analyst estimates of $89.87 million. First Financial Bankshares had a net margin of 33.51% and a return on equity of 12.70%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. analysts anticipate that First Financial Bankshares Inc will post 1.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 45.51%.
In other news, Director David L. Copeland sold 1,368 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $45.52, for a total value of $62,271.36. Following the completion of the sale, the director now owns 33,379 shares in the company, valued at approximately $1,519,412.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.04% of the stock is currently owned by company insiders.
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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.
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