Comerica Bank Has $3.45 Million Stake in First Financial Bankshares, Inc. (FFIN)

Comerica Bank increased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,131 shares of the bank’s stock after acquiring an additional 3,063 shares during the quarter. Comerica Bank owned about 0.11% of First Financial Bankshares worth $3,453,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in First Financial Bankshares by 2.9% in the fourth quarter. BlackRock Inc. now owns 8,323,144 shares of the bank’s stock valued at $374,957,000 after purchasing an additional 235,950 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in First Financial Bankshares by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,622,258 shares of the bank’s stock valued at $73,083,000 after purchasing an additional 87,580 shares in the last quarter. Bank of New York Mellon Corp raised its stake in First Financial Bankshares by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,177,634 shares of the bank’s stock valued at $53,052,000 after purchasing an additional 32,593 shares in the last quarter. Geode Capital Management LLC raised its stake in First Financial Bankshares by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 590,835 shares of the bank’s stock valued at $26,616,000 after purchasing an additional 9,414 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in First Financial Bankshares by 5.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 362,361 shares of the bank’s stock valued at $16,325,000 after purchasing an additional 18,597 shares in the last quarter. Institutional investors own 50.69% of the company’s stock.

First Financial Bankshares opened at $52.60 on Friday, MarketBeat reports. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 30.06 and a beta of 1.26. First Financial Bankshares, Inc. has a one year low of $37.31 and a one year high of $53.25.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. The firm had revenue of $89.87 million for the quarter, compared to the consensus estimate of $89.40 million. First Financial Bankshares had a net margin of 36.61% and a return on equity of 12.63%. During the same period last year, the firm posted $0.40 earnings per share. sell-side analysts predict that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 14th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. First Financial Bankshares’s dividend payout ratio (DPR) is 44.71%.

In other First Financial Bankshares news, Director David L. Copeland sold 7,362 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $50.68, for a total transaction of $373,106.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 24 shares of company stock worth $1,041 over the last three months. Insiders own 4.77% of the company’s stock.

A number of brokerages recently weighed in on FFIN. BidaskClub downgraded shares of First Financial Bankshares from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 15th. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday. Hovde Group set a $46.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Monday, January 29th. Sandler O’Neill reissued a “sell” rating and set a $40.00 price target on shares of First Financial Bankshares in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $47.00 price target on shares of First Financial Bankshares in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. First Financial Bankshares presently has an average rating of “Hold” and a consensus target price of $44.71.

About First Financial Bankshares

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.

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).

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.



Leave a Reply