Wealth Enhancement Advisory Services LLC Buys 1,255 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Wealth Enhancement Advisory Services LLC raised its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,765 shares of the bank’s stock after purchasing an additional 1,255 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Financial Bankshares were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FFIN. Fifth Third Bancorp lifted its position in First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock valued at $26,000 after purchasing an additional 441 shares during the last quarter. Assetmark Inc. purchased a new position in shares of First Financial Bankshares during the fourth quarter worth approximately $33,000. UMB Bank n.a. raised its stake in shares of First Financial Bankshares by 245.6% during the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank’s stock worth $68,000 after acquiring an additional 1,353 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock worth $69,000 after acquiring an additional 912 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after acquiring an additional 3,039 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Up 0.5%

Shares of NASDAQ FFIN opened at $37.74 on Friday. First Financial Bankshares, Inc. has a 52 week low of $28.35 and a 52 week high of $44.66. The firm’s fifty day moving average is $35.51 and its 200 day moving average is $35.71. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 23.30 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. The company had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. Equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.01%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 16th. First Financial Bankshares’s payout ratio is presently 46.91%.

Wall Street Analysts Forecast Growth

FFIN has been the topic of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Hovde Group decreased their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny acquired 5,000 shares of First Financial Bankshares stock in a transaction on Friday, June 13th. The shares were acquired at an average cost of $36.02 per share, with a total value of $180,100.00. Following the transaction, the director owned 108,708 shares in the company, valued at $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 6,399 shares of company stock worth $227,646. 4.22% of the stock is currently owned by insiders.

About First Financial Bankshares

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.