Inspire Investing LLC Boosts Holdings in First Financial Bankshares, Inc. $FFIN

Inspire Investing LLC raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 15.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,221 shares of the bank’s stock after purchasing an additional 1,720 shares during the quarter. Inspire Investing LLC’s holdings in First Financial Bankshares were worth $476,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FFIN. Champlain Investment Partners LLC boosted its stake in shares of First Financial Bankshares by 5.9% in the first quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock worth $104,213,000 after buying an additional 161,991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in First Financial Bankshares by 36.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after purchasing an additional 652,575 shares in the last quarter. Ameriprise Financial Inc. boosted its position in First Financial Bankshares by 125.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock worth $38,993,000 after purchasing an additional 604,648 shares in the last quarter. Nuveen LLC purchased a new stake in First Financial Bankshares in the 1st quarter worth approximately $34,662,000. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in First Financial Bankshares by 4.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 953,592 shares of the bank’s stock worth $34,253,000 after buying an additional 37,733 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Down 4.8%

Shares of First Financial Bankshares stock opened at $32.11 on Monday. The firm has a market capitalization of $4.59 billion, a PE ratio of 18.67 and a beta of 0.86. The firm’s 50-day moving average price is $35.23 and its 200 day moving average price is $35.17. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.During the same quarter last year, the business posted $0.37 earnings per share. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 15th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 44.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of First Financial Bankshares in a report on Saturday, September 27th. Keefe, Bruyette & Woods increased their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a research report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price target on the stock. Finally, Hovde Group increased their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, First Financial Bankshares has an average rating of “Hold” and a consensus target price of $39.00.

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.