State of Alaska Purchases Shares in First Financial Bankshares

The State of Alaska Department of Revenue has increased its investment in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 7.3% during the third quarter, according to recent reports. The department now holds a total of 14,881 shares of the bank after acquiring an additional 1,010 shares during this period. By the end of the most recent quarter, the value of these holdings was approximately $550,000.

In addition to the State of Alaska, several other significant investors have also adjusted their positions in First Financial Bankshares. Ballentine Partners LLC grew its holdings by 2.8% in the third quarter, now owning 12,190 shares worth around $451,000 after adding 333 shares. Meanwhile, Allspring Global Investments Holdings LLC massively raised its stake by over 5,346.2%, acquiring a total of 7,897 shares valued at $292,000 after an addition of 7,752 shares. Blue Trust Inc. increased its position in the company by 33.5%, now holding 36,123 shares worth about $1,337,000 after purchasing an additional 9,056 shares.

Other notable investments include Inspire Advisors LLC, which took a new position in First Financial Bankshares worth approximately $229,000, and CFM Wealth Partners LLC, which increased its stake by 9.3%, now owning 190,943 shares valued at $7,067,000 after adding 16,194 shares. Overall, institutional investors and hedge funds own around 69.78% of the company’s stock, indicating strong institutional interest.

Recent Stock Performance

On Friday, First Financial Bankshares shares opened at $40.84. Over the past year, the stock has experienced a fifty-two week low of $24.22 and a high of $42.02. The company's fifty-day moving average stands at $36.86, while the two-hundred-day moving average is $33.61. First Financial Bankshares currently has a market cap of $5.83 billion with a price-to-earnings ratio of 28.17 and a beta of 0.78, indicating stability.

Dividend Announcement

The bank has also declared a quarterly dividend, scheduled to be paid on January 2nd. Shareholders recorded by December 13th will receive a dividend of $0.18 per share. The ex-dividend date is set for December 12th. This quarterly dividend translates into an annualized dividend of $0.72, which gives a yield of 1.76%. The payout ratio for the dividend currently stands at 49.66%.

Analyst Reports

About First Financial Bankshares

First Financial Bankshares, Inc. operates through its subsidiaries, providing a wide range of commercial banking services primarily in Texas. The bank offers various products including checking accounts, savings accounts, time deposits, and additional services like internet banking and trust management. With a focus on delivering quality banking solutions, First Financial Bankshares continues to position itself as a significant player in the financial sector.

Alaska, Investment, Shares