Monument Capital Management Decreases Stock Position in First Financial Bankshares, Inc. $FFIN

Monument Capital Management trimmed its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,926 shares of the bank’s stock after selling 2,131 shares during the period. Monument Capital Management’s holdings in First Financial Bankshares were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FFIN. Nuveen LLC acquired a new stake in First Financial Bankshares in the first quarter valued at approximately $34,662,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of First Financial Bankshares by 36.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after acquiring an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of First Financial Bankshares by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock worth $38,993,000 after acquiring an additional 604,648 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of First Financial Bankshares by 484.7% in the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank’s stock worth $9,038,000 after acquiring an additional 208,573 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of First Financial Bankshares by 175.7% in the first quarter. Panagora Asset Management Inc. now owns 270,589 shares of the bank’s stock worth $9,720,000 after acquiring an additional 172,453 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

FFIN opened at $32.11 on Friday. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66. The company has a market cap of $4.59 billion, a P/E ratio of 18.67 and a beta of 0.86. The business’s 50-day simple moving average is $35.23 and its 200-day simple moving average is $35.19.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.During the same period in the prior year, the firm earned $0.37 EPS. As a group, analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 15th. First Financial Bankshares’s dividend payout ratio is 44.19%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FFIN. Hovde Group lifted their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a “market perform” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Financial Bankshares in a research note on Saturday, September 27th. Cantor Fitzgerald initiated coverage on First Financial Bankshares in a research report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price objective on the stock. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.00.

First Financial Bankshares Company Profile

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.