New Mexico Educational Retirement Board Boosts Stake in First Financial Bankshares Inc (NASDAQ:FFIN)
New Mexico Educational Retirement Board raised its position in First Financial Bankshares Inc (NASDAQ:FFIN) by 38.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,400 shares of the bank’s stock after buying an additional 9,000 shares during the period. New Mexico Educational Retirement Board’s holdings in First Financial Bankshares were worth $870,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of First Financial Bankshares by 5.4% in the first quarter. Geode Capital Management LLC now owns 2,085,286 shares of the bank’s stock valued at $55,969,000 after purchasing an additional 106,989 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of First Financial Bankshares by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,774,762 shares of the bank’s stock worth $47,635,000 after purchasing an additional 6,777 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of First Financial Bankshares by 4.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,663,371 shares of the bank’s stock worth $58,384,000 after purchasing an additional 70,464 shares during the period. Norges Bank bought a new position in shares of First Financial Bankshares during the 4th quarter worth about $43,964,000. Finally, Wells Fargo & Company MN increased its holdings in shares of First Financial Bankshares by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 800,254 shares of the bank’s stock worth $21,479,000 after purchasing an additional 4,598 shares during the period. Institutional investors own 49.38% of the company’s stock.
In other First Financial Bankshares news, Director Tucker S. Bridwell sold 23,206 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $26.32, for a total value of $610,781.92. Following the completion of the transaction, the director now directly owns 68,386 shares of the company’s stock, valued at $1,799,919.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David L. Copeland sold 20,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $33.61, for a total transaction of $672,200.00. Following the completion of the transaction, the director now directly owns 69,844 shares of the company’s stock, valued at $2,347,456.84. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 10,267 shares of company stock worth $259,213 and sold 63,206 shares worth $1,836,182. 4.44% of the stock is owned by insiders.
NASDAQ:FFIN opened at $27.96 on Tuesday. The firm has a market cap of $3.82 billion, a PE ratio of 23.50 and a beta of 0.97. First Financial Bankshares Inc has a 12 month low of $20.70 and a 12 month high of $36.45. The company’s 50-day moving average price is $29.27 and its two-hundred day moving average price is $30.43.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.03). The firm had revenue of $111.47 million during the quarter, compared to analyst estimates of $108.95 million. First Financial Bankshares had a net margin of 36.96% and a return on equity of 12.79%. During the same quarter last year, the firm earned $0.56 earnings per share. Analysts expect that First Financial Bankshares Inc will post 0.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Tuesday, June 16th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. First Financial Bankshares’s payout ratio is 42.98%.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, 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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