Raymond James & Associates Has $1.74 Million Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Raymond James & Associates boosted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,563 shares of the bank’s stock after buying an additional 5,199 shares during the quarter. Raymond James & Associates’ holdings in First Financial Bankshares were worth $1,744,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $593,000. Tudor Investment Corp Et Al acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $2,424,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $1,758,000. Aigen Investment Management LP boosted its stake in First Financial Bankshares by 209.9% in the 3rd quarter. Aigen Investment Management LP now owns 35,657 shares of the bank’s stock valued at $896,000 after buying an additional 24,152 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in First Financial Bankshares by 58.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 304,771 shares of the bank’s stock valued at $7,656,000 after buying an additional 112,773 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FFIN. Truist Financial cut their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Stephens lifted their price objective on First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.75.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $28.65 on Thursday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 20.46 and a beta of 0.82. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $33.15. The stock has a fifty day moving average price of $31.19 and a two-hundred day moving average price of $28.81.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, January 25th. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $119.49 million for the quarter, compared to the consensus estimate of $125.09 million. First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, research analysts predict that First Financial Bankshares, Inc. will post 1.45 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.51%. First Financial Bankshares’s payout ratio is currently 51.43%.

First Financial Bankshares 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.