Fmr LLC Raises Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Fmr LLC grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 71.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,407 shares of the bank’s stock after purchasing an additional 47,417 shares during the quarter. Fmr LLC owned approximately 0.08% of First Financial Bankshares worth $4,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindenwold Advisors INC boosted its holdings in First Financial Bankshares by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock worth $336,000 after buying an additional 250 shares during the period. Signaturefd LLC boosted its stake in First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after buying an additional 270 shares during the last quarter. Crewe Advisors LLC raised its stake in First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after purchasing an additional 296 shares in the last quarter. Ballentine Partners LLC grew its position in First Financial Bankshares by 2.8% in the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after acquiring an additional 333 shares in the last quarter. Finally, Huntington National Bank increased its stake in First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after acquiring an additional 577 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Up 0.0 %

Shares of FFIN opened at $40.47 on Friday. First Financial Bankshares, Inc. has a twelve month low of $27.06 and a twelve month high of $44.66. The company has a 50 day moving average of $39.38 and a two-hundred day moving average of $35.54. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 28.02 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. First Financial Bankshares’s dividend payout ratio (DPR) is 49.66%.

Analysts Set New Price Targets

FFIN has been the subject of a number of recent research reports. Stephens lifted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Truist Financial upped their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods raised their target price on shares of First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Hovde Group increased their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st.

Insider Buying and Selling

In related news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.22% of the stock is currently owned by company insiders.

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.