Allworth Financial LP Has $164,000 Holdings in First Financial Bankshares, Inc. $FFIN

Allworth Financial LP boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 94.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,554 shares of the bank’s stock after acquiring an additional 2,213 shares during the period. Allworth Financial LP’s holdings in First Financial Bankshares were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Champlain Investment Partners LLC lifted its holdings in shares of First Financial Bankshares by 5.9% during the 1st quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock valued at $104,213,000 after purchasing an additional 161,991 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in First Financial Bankshares by 36.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after buying an additional 652,575 shares during the period. Ameriprise Financial Inc. lifted its stake in First Financial Bankshares by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock valued at $38,993,000 after buying an additional 604,648 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in First Financial Bankshares by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,070,755 shares of the bank’s stock valued at $38,526,000 after buying an additional 11,188 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of First Financial Bankshares in the first quarter valued at approximately $34,662,000. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Up 1.2%

NASDAQ:FFIN opened at $30.23 on Wednesday. First Financial Bankshares, Inc. has a twelve month low of $29.80 and a twelve month high of $44.66. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 17.89 and a beta of 0.88. The stock’s 50 day moving average price is $32.75 and its two-hundred day moving average price is $34.83.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). The firm had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.21 million. First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. First Financial Bankshares’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. First Financial Bankshares’s dividend payout ratio (DPR) is 44.97%.

Insider Activity

In other First Financial Bankshares news, Director Sally Pope Davis purchased 1,700 shares of the stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $30.73 per share, with a total value of $52,241.00. Following the completion of the transaction, the director directly owned 6,971 shares in the company, valued at $214,218.83. This represents a 32.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle S. Hickox acquired 2,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the purchase, the chief financial officer directly owned 24,461 shares of the company’s stock, valued at approximately $761,960.15. This trade represents a 8.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 4,353 shares of company stock worth $134,888 over the last 90 days. 4.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Hovde Group raised shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Monday, October 27th. Cantor Fitzgerald started coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.00.

First Financial Bankshares Company 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.