Teza Capital Management LLC Decreases Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Teza Capital Management LLC decreased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 20.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,747 shares of the bank’s stock after selling 3,777 shares during the period. Teza Capital Management LLC’s holdings in First Financial Bankshares were worth $532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC lifted its position in First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock valued at $101,222,000 after acquiring an additional 2,730,017 shares in the last quarter. Norges Bank bought a new position in shares of First Financial Bankshares during the fourth quarter valued at $47,757,000. Axiom Investors LLC DE purchased a new stake in shares of First Financial Bankshares during the fourth quarter valued at $16,937,000. Raymond James Financial Inc. bought a new stake in First Financial Bankshares in the 4th quarter worth about $8,341,000. Finally, JPMorgan Chase & Co. raised its position in First Financial Bankshares by 48.9% in the 4th quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock worth $24,777,000 after buying an additional 225,574 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Hovde Group decreased their price objective on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research note on Monday, April 21st.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $35.87 on Tuesday. The stock’s 50-day simple moving average is $34.29 and its two-hundred day simple moving average is $36.89. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 22.99 and a beta of 0.89. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $149.02 million for the quarter, compared to analysts’ expectations of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.12%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.91%.

Insiders Place Their Bets

In related news, Director Johnny Trotter acquired 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 7,099 shares of company stock worth $247,751. Company insiders own 4.22% of the company’s stock.

About First Financial Bankshares

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.