First Financial Bankshares, Inc. (FFIN) Stake Lowered by First Trust Advisors LP

First Trust Advisors LP lowered its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,672 shares of the bank’s stock after selling 79,820 shares during the quarter. First Trust Advisors LP owned 0.16% of First Financial Bankshares worth $4,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. LS Investment Advisors LLC raised its holdings in shares of First Financial Bankshares by 20.6% in the 1st quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock worth $121,000 after purchasing an additional 516 shares during the period. Victory Capital Management Inc. raised its holdings in shares of First Financial Bankshares by 26.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock worth $141,000 after purchasing an additional 743 shares during the period. Bank of Montreal Can raised its holdings in shares of First Financial Bankshares by 9.0% in the 1st quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock worth $207,000 after purchasing an additional 426 shares during the period. Strs Ohio raised its holdings in shares of First Financial Bankshares by 6.4% in the 2nd quarter. Strs Ohio now owns 5,000 shares of the bank’s stock worth $221,000 after purchasing an additional 300 shares during the period. Finally, OppenheimerFunds Inc. bought a new stake in shares of First Financial Bankshares in the 1st quarter worth approximately $270,000. 50.12% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “First Financial Bankshares, Inc. (FFIN) Stake Lowered by First Trust Advisors LP” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://ledgergazette.com/2017/09/17/first-financial-bankshares-inc-ffin-shares-sold-by-first-trust-advisors-lp.html.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Piper Jaffray Companies reissued a “hold” rating and set a $41.00 target price on shares of First Financial Bankshares in a report on Friday, July 21st. BidaskClub cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Stephens set a $39.00 target price on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.80.

Shares of First Financial Bankshares, Inc. (FFIN) traded up 0.49% during midday trading on Friday, reaching $40.70. 537,560 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $40.69 and a 200-day moving average of $40.95. First Financial Bankshares, Inc. has a one year low of $35.05 and a one year high of $46.70. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 25.09 and a beta of 1.36.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $87.11 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post $1.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.19 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.76 annualized dividend and a yield of 1.87%. First Financial Bankshares’s payout ratio is presently 46.91%.

First Financial Bankshares announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 25th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

First Financial Bankshares Profile

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)

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.

Leave a Reply