Retirement Systems of Alabama Has $5.78 Million Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Retirement Systems of Alabama cut its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 156,177 shares of the bank’s stock after selling 2,494 shares during the period. Retirement Systems of Alabama’s holdings in First Financial Bankshares were worth $5,780,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FFIN. Lindenwold Advisors INC lifted its position in shares of First Financial Bankshares by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock worth $336,000 after buying an additional 250 shares during the last quarter. Signaturefd LLC raised its stake in First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock worth $166,000 after acquiring an additional 270 shares in the last quarter. Crewe Advisors LLC raised its stake in First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after acquiring an additional 296 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of First Financial Bankshares by 2.8% in the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after acquiring an additional 333 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

FFIN opened at $36.73 on Thursday. First Financial Bankshares, Inc. has a fifty-two week low of $27.06 and a fifty-two week high of $44.66. The company’s 50 day moving average price is $39.65 and its two-hundred day moving average price is $35.85. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 25.33 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. First Financial Bankshares’s payout ratio is 49.66%.

Analysts Set New Price Targets

Several equities analysts recently commented on FFIN shares. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Stephens increased their price target on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Hovde Group boosted their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods upped their target price on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, CEO F Scott Dueser sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the completion of the sale, the chief executive officer now owns 471,004 shares of the company’s stock, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their position. The disclosure for this sale can be found here. 4.22% of the stock is owned by corporate insiders.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.