Louisiana State Employees Retirement System Purchases Shares of 36,100 First Financial Bankshares, Inc. (NASDAQ:FFIN)

Louisiana State Employees Retirement System purchased a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,100 shares of the bank’s stock, valued at approximately $1,094,000.

A number of other large investors also recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its holdings in First Financial Bankshares by 16.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 267,376 shares of the bank’s stock valued at $8,101,000 after acquiring an additional 38,258 shares during the period. International Assets Investment Management LLC acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $2,965,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of First Financial Bankshares by 5.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,915 shares of the bank’s stock worth $1,815,000 after buying an additional 3,228 shares during the period. Mcdaniel Terry & Co. acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $222,000. Finally, Ballentine Partners LLC acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $352,000. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $30.51 on Wednesday. The business has a fifty day moving average price of $31.09 and a 200 day moving average price of $29.00. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $33.15. The company has a market cap of $4.36 billion, a P/E ratio of 21.79 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The firm had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FFIN. Truist Financial reduced their target price on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday. Stephens reduced their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods upped their target price on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

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.