Louisiana State Employees Retirement System Makes New Investment in First Financial Bankshares, Inc. $FFIN

Louisiana State Employees Retirement System bought a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,800 shares of the bank’s stock, valued at approximately $1,113,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of First Financial Bankshares by 11.0% during the 1st quarter. Blue Trust Inc. now owns 35,111 shares of the bank’s stock valued at $1,034,000 after acquiring an additional 3,473 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in First Financial Bankshares by 2.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock worth $393,000 after purchasing an additional 356 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in First Financial Bankshares during the fourth quarter worth about $44,000. Fuller & Thaler Asset Management Inc. boosted its holdings in First Financial Bankshares by 9.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,125,375 shares of the bank’s stock valued at $33,615,000 after purchasing an additional 98,134 shares during the last quarter. Finally, VARCOV Co. acquired a new position in First Financial Bankshares in the 4th quarter valued at about $278,000. 69.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research report on Wednesday, April 8th. Finally, Benchmark began coverage on First Financial Bankshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Insider Activity

In other First Financial Bankshares news, Director Murray Hamilton Edwards acquired 1,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the director owned 44,634 shares in the company, valued at $1,480,956.12. This trade represents a 2.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN opened at $34.88 on Friday. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $38.74. The stock has a fifty day simple moving average of $32.80 and a 200-day simple moving average of $31.89. The stock has a market capitalization of $5.00 billion, a PE ratio of 18.96 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.The firm had revenue of $166.89 million for the quarter, compared to analyst estimates of $166.78 million. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities analysts predict that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.22 per share. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, June 12th. First Financial Bankshares’s dividend payout ratio is currently 47.83%.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.