Elkfork Partners LLC Purchases 12,964 Shares of First Financial Bankshares Inc (NASDAQ:FFIN)

Elkfork Partners LLC grew its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 100.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,928 shares of the bank’s stock after purchasing an additional 12,964 shares during the quarter. Elkfork Partners LLC’s holdings in First Financial Bankshares were worth $798,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIN. First Command Financial Services Inc. lifted its position in shares of First Financial Bankshares by 100.0% during the 2nd quarter. First Command Financial Services Inc. now owns 1,048 shares of the bank’s stock valued at $32,000 after acquiring an additional 524 shares during the period. Advisory Services Network LLC lifted its position in shares of First Financial Bankshares by 223.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,174 shares of the bank’s stock valued at $36,000 after acquiring an additional 811 shares during the period. Liberty Wealth Management LLC lifted its position in shares of First Financial Bankshares by 100.0% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,260 shares of the bank’s stock valued at $39,000 after acquiring an additional 630 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of First Financial Bankshares by 87.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,686 shares of the bank’s stock worth $52,000 after purchasing an additional 786 shares during the last quarter. Finally, Synovus Financial Corp raised its position in shares of First Financial Bankshares by 100.0% during the 2nd quarter. Synovus Financial Corp now owns 1,932 shares of the bank’s stock worth $60,000 after purchasing an additional 966 shares during the last quarter. 51.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:FFIN opened at $33.63 on Friday. First Financial Bankshares Inc has a fifty-two week low of $26.73 and a fifty-two week high of $33.97. The firm has a 50-day simple moving average of $31.63 and a 200 day simple moving average of $43.28. The company has a market cap of $4.58 billion, a PE ratio of 30.85 and a beta of 1.18.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. The business had revenue of $101.26 million during the quarter, compared to the consensus estimate of $99.90 million. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts expect that First Financial Bankshares Inc will post 1.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a $0.12 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.04%.

Several brokerages recently issued reports on FFIN. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies set a $29.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Thursday, August 22nd. Stephens reaffirmed a “hold” rating and issued a $30.00 target price on shares of First Financial Bankshares in a research note on Friday, July 19th. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. Finally, ValuEngine cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. First Financial Bankshares currently has a consensus rating of “Hold” and an average target price of $31.50.

First Financial Bankshares Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

Featured Article: Coverage Ratio

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

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