HighTower Advisors LLC Acquires 1,508 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

HighTower Advisors LLC grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFINGet Rating) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,757 shares of the bank’s stock after acquiring an additional 1,508 shares during the period. HighTower Advisors LLC’s holdings in First Financial Bankshares were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Los Angeles Capital Management LLC grew its position in shares of First Financial Bankshares by 2.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 10,374 shares of the bank’s stock valued at $458,000 after acquiring an additional 272 shares during the period. CWM LLC lifted its stake in shares of First Financial Bankshares by 1.0% during the 1st quarter. CWM LLC now owns 31,563 shares of the bank’s stock valued at $1,393,000 after buying an additional 315 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of First Financial Bankshares by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 68,316 shares of the bank’s stock valued at $3,014,000 after buying an additional 426 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of First Financial Bankshares by 15.9% during the 1st quarter. Van ECK Associates Corp now owns 3,378 shares of the bank’s stock valued at $149,000 after buying an additional 464 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of First Financial Bankshares by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the bank’s stock valued at $1,444,000 after buying an additional 600 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.

First Financial Bankshares Stock Up 1.8 %

Shares of FFIN stock opened at $41.97 on Thursday. The stock has a market cap of $5.98 billion, a P/E ratio of 26.07 and a beta of 0.88. First Financial Bankshares, Inc. has a 52 week low of $37.47 and a 52 week high of $55.00. The company’s fifty day simple moving average is $42.89 and its two-hundred day simple moving average is $42.67.

First Financial Bankshares (NASDAQ:FFINGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The bank reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $139.47 million for the quarter, compared to analysts’ expectations of $133.87 million. First Financial Bankshares had a net margin of 42.97% and a return on equity of 14.63%. On average, analysts anticipate that First Financial Bankshares, Inc. will post 1.63 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, September 14th. First Financial Bankshares’s dividend payout ratio is 42.24%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FFIN shares. StockNews.com upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Stephens lifted their target price on shares of First Financial Bankshares to $44.00 in a research note on Tuesday, July 26th. Hovde Group decreased their price target on shares of First Financial Bankshares to $44.50 in a research note on Friday, July 22nd. Finally, Truist Financial boosted their price target on shares of First Financial Bankshares to $46.00 in a research note on Monday, July 25th.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter bought 1,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The shares were purchased at an average cost of $39.34 per share, for a total transaction of $39,340.00. Following the transaction, the director now owns 893,757 shares of the company’s stock, valued at $35,160,400.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.19% of the company’s stock.

First Financial Bankshares Company Profile

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

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

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