Panagora Asset Management Inc. Purchases 19,090 Shares of First Financial Bankshares, Inc. $FFIN

Panagora Asset Management Inc. increased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 7.1% in the 2nd quarter, Holdings Channel reports. The fund owned 289,679 shares of the bank’s stock after buying an additional 19,090 shares during the quarter. Panagora Asset Management Inc.’s holdings in First Financial Bankshares were worth $10,423,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FFIN. Raymond James Financial Inc. boosted its position in shares of First Financial Bankshares by 25.2% in the 1st quarter. Raymond James Financial Inc. now owns 289,652 shares of the bank’s stock worth $10,404,000 after purchasing an additional 58,291 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of First Financial Bankshares by 9.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 31,025 shares of the bank’s stock worth $1,116,000 after acquiring an additional 2,598 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of First Financial Bankshares in the second quarter worth $2,691,000. Strs Ohio bought a new position in shares of First Financial Bankshares during the first quarter valued at $402,000. Finally, Hsbc Holdings PLC bought a new position in shares of First Financial Bankshares during the first quarter valued at $1,022,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of First Financial Bankshares in a research report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price objective on the stock. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

Insider Buying and Selling

In other news, Director Sally Pope Davis bought 1,700 shares of First Financial Bankshares stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $30.73 per share, with a total value of $52,241.00. Following the acquisition, the director owned 6,971 shares of the company’s stock, valued at $214,218.83. The trade was a 32.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle S. Hickox bought 2,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the purchase, the chief financial officer owned 24,461 shares in the company, valued at $761,960.15. This trade represents a 8.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 4,353 shares of company stock valued at $134,888. 3.96% of the stock is currently owned by corporate insiders.

First Financial Bankshares Price Performance

NASDAQ:FFIN opened at $31.13 on Wednesday. First Financial Bankshares, Inc. has a one year low of $29.80 and a one year high of $41.89. The business has a fifty day moving average price of $31.91 and a 200-day moving average price of $34.54. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 18.42 and a beta of 0.85.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The company had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.21 million. During the same quarter last year, the firm posted $0.37 earnings per share. First Financial Bankshares’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. First Financial Bankshares’s payout ratio is 44.97%.

First Financial Bankshares Company Profile

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.