Magnus Financial Group LLC Raises Position in First Financial Bankshares Inc (NASDAQ:FFIN)

Magnus Financial Group LLC raised its holdings in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 100.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,350 shares of the bank’s stock after acquiring an additional 7,675 shares during the quarter. Magnus Financial Group LLC’s holdings in First Financial Bankshares were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of First Financial Bankshares by 767.3% during the 1st quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock valued at $26,000 after buying an additional 399 shares in the last quarter. First Command Financial Services Inc. lifted its stake in First Financial Bankshares by 100.0% in the 2nd quarter. First Command Financial Services Inc. now owns 1,048 shares of the bank’s stock worth $32,000 after purchasing an additional 524 shares in the last quarter. Advisory Services Network LLC lifted its stake in First Financial Bankshares by 223.4% in the 2nd quarter. Advisory Services Network LLC now owns 1,174 shares of the bank’s stock worth $36,000 after purchasing an additional 811 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in First Financial Bankshares by 100.0% in the 2nd quarter. Liberty Wealth Management LLC now owns 1,260 shares of the bank’s stock worth $39,000 after purchasing an additional 630 shares in the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in First Financial Bankshares in the 1st quarter worth $327,000. Institutional investors and hedge funds own 55.53% of the company’s stock.

FFIN stock traded up $0.57 during mid-day trading on Monday, hitting $31.72. The company had a trading volume of 6,739 shares, compared to its average volume of 383,996. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 29.04 and a beta of 1.14. First Financial Bankshares Inc has a 12-month low of $26.73 and a 12-month high of $33.43. The company has a 50-day moving average price of $31.12 and a 200 day moving average price of $49.47.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $101.26 million for the quarter, compared to analysts’ expectations of $99.90 million. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. During the same quarter in the previous year, the company earned $0.49 EPS. On average, research analysts forecast that First Financial Bankshares Inc will post 1.2 earnings per share for the current fiscal year.

Several brokerages have commented on FFIN. Stephens reiterated a “hold” rating and issued a $30.00 price target on shares of First Financial Bankshares in a research note on Friday, July 19th. BidaskClub cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. ValuEngine cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Piper Jaffray Companies set a $27.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. First Financial Bankshares presently has a consensus rating of “Hold” and a consensus target price of $30.25.

First Financial Bankshares Profile

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.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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