Short Interest in First Financial Bankshares, Inc. (NASDAQ:FFIN) Decreases By 5.5%

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,770,000 shares, a decrease of 5.5% from the September 15th total of 8,220,000 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 579,500 shares, the days-to-cover ratio is currently 13.4 days.

First Financial Bankshares Stock Up 0.3 %

Shares of FFIN stock traded up $0.10 during mid-day trading on Thursday, hitting $38.85. 358,943 shares of the company's stock were exchanged, compared to its average volume of 544,031. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $39.53. The stock has a 50-day simple moving average of $36.29 and a two-hundred day simple moving average of $32.90. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 27.68 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $184.94 million for the quarter, compared to analysts' expectations of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. As a group, analysts anticipate that First Financial Bankshares will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 12th. First Financial Bankshares's dividend payout ratio (DPR) is currently 51.43%.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of analyst reports. Truist Financial increased their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a report on Friday, September 20th. Stephens raised their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, July 19th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of First Financial Bankshares in the 2nd quarter worth $29,000. Hexagon Capital Partners LLC raised its position in First Financial Bankshares by 81.1% in the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank's stock valued at $30,000 after purchasing an additional 415 shares during the period. Neo Ivy Capital Management purchased a new position in First Financial Bankshares in the second quarter valued at about $41,000. Quarry LP purchased a new position in First Financial Bankshares in the second quarter valued at about $83,000. Finally, Point72 DIFC Ltd purchased a new position in First Financial Bankshares in the second quarter valued at about $97,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

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.