California State Teachers Retirement System Has $3.96 Million Stock Holdings in First Financial Bankshares, Inc. $FFIN

California State Teachers Retirement System raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 19.0% in the 1st quarter, HoldingsChannel reports. The firm owned 134,409 shares of the bank’s stock after acquiring an additional 21,477 shares during the quarter. California State Teachers Retirement System’s holdings in First Financial Bankshares were worth $3,958,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP grew its stake in First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares during the period. Danske Bank A S raised its position in shares of First Financial Bankshares by 200.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after purchasing an additional 800 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of First Financial Bankshares in the 4th quarter worth $44,000. CIBC Private Wealth Group LLC bought a new stake in First Financial Bankshares during the 3rd quarter valued at $50,000. Finally, State of Wyoming acquired a new position in First Financial Bankshares during the second quarter worth $54,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

FFIN has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Benchmark initiated coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $34.67 on Friday. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 18.54 and a beta of 0.81. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $38.12. The firm has a 50-day moving average price of $34.21 and a two-hundred day moving average price of $32.54.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, sell-side analysts forecast that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 14th. First Financial Bankshares’s payout ratio is 47.06%.

Insiders Place Their Bets

In related news, Director Murray Hamilton Edwards purchased 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $33.18 per share, for a total transaction of $33,180.00. Following the completion of the transaction, the director owned 44,634 shares in the company, valued at $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

First Financial Bankshares 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.