Retirement Systems of Alabama Purchases 1,265 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Posted by on May 4th, 2023

Retirement Systems of Alabama raised its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,085 shares of the bank’s stock after purchasing an additional 1,265 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of First Financial Bankshares worth $5,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of First Financial Bankshares during the fourth quarter worth $34,000. Wipfli Financial Advisors LLC purchased a new position in shares of First Financial Bankshares during the 3rd quarter valued at $38,000. Parallel Advisors LLC increased its holdings in shares of First Financial Bankshares by 104.7% in the fourth quarter. Parallel Advisors LLC now owns 1,132 shares of the bank’s stock worth $39,000 after purchasing an additional 579 shares during the period. Quadrant Capital Group LLC boosted its stake in First Financial Bankshares by 46.0% during the third quarter. Quadrant Capital Group LLC now owns 1,101 shares of the bank’s stock valued at $46,000 after buying an additional 347 shares during the period. Finally, Signaturefd LLC grew its position in First Financial Bankshares by 62.7% during the third quarter. Signaturefd LLC now owns 1,199 shares of the bank’s stock worth $50,000 after buying an additional 462 shares in the last quarter. Institutional investors own 53.86% of the company’s stock.

Analyst Ratings Changes

FFIN has been the subject of a number of research analyst reports. Stephens dropped their price target on First Financial Bankshares from $34.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, April 21st. StockNews.com lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Truist Financial lowered their price target on First Financial Bankshares from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, March 23rd. Finally, Piper Sandler cut their price objective on First Financial Bankshares from $28.00 to $26.00 in a report on Friday, April 21st.

Insider Buying and Selling

In related news, Director Johnny Trotter acquired 4,000 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was purchased at an average price of $29.05 per share, with a total value of $116,200.00. Following the completion of the purchase, the director now owns 917,576 shares in the company, valued at approximately $26,655,582.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Michelle S. Hickox acquired 5,000 shares of the stock in a transaction dated Monday, February 6th. The stock was purchased at an average cost of $36.44 per share, with a total value of $182,200.00. Following the completion of the purchase, the chief financial officer now owns 5,000 shares in the company, valued at approximately $182,200. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johnny Trotter bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average cost of $29.05 per share, for a total transaction of $116,200.00. Following the completion of the purchase, the director now directly owns 917,576 shares of the company’s stock, valued at $26,655,582.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,346 shares of company stock worth $1,036,837 in the last ninety days. 4.11% of the stock is owned by insiders.

First Financial Bankshares Stock Up 0.8 %

Shares of NASDAQ:FFIN opened at $28.45 on Thursday. The stock has a market cap of $4.06 billion, a PE ratio of 17.67 and a beta of 0.73. The company’s fifty day moving average is $31.71 and its 200 day moving average is $34.70. First Financial Bankshares, Inc. has a 52 week low of $27.29 and a 52 week high of $47.26.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, June 14th. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.53%. First Financial Bankshares’s dividend payout ratio is currently 44.72%.

About First Financial Bankshares

(Get Rating)

First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.

Featured Stories

Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating).

Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

Receive News & Ratings for First Financial Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.