Creative Planning Acquires 15,266 Shares of First Financial Bankshares, Inc. $FFIN

Creative Planning increased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,526 shares of the bank’s stock after buying an additional 15,266 shares during the period. Creative Planning owned 0.06% of First Financial Bankshares worth $3,005,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of First Financial Bankshares by 443.8% during the second quarter. SG Americas Securities LLC now owns 34,897 shares of the bank’s stock worth $1,256,000 after purchasing an additional 28,480 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in First Financial Bankshares by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,078 shares of the bank’s stock worth $1,190,000 after purchasing an additional 2,333 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in First Financial Bankshares by 9.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 31,025 shares of the bank’s stock worth $1,116,000 after purchasing an additional 2,598 shares during the last quarter. Geode Capital Management LLC lifted its holdings in First Financial Bankshares by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,452,051 shares of the bank’s stock worth $124,218,000 after buying an additional 61,599 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in First Financial Bankshares by 336.8% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 422,245 shares of the bank’s stock valued at $15,192,000 after buying an additional 325,572 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $31.36 on Monday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 18.56 and a beta of 0.88. The stock’s 50-day moving average is $32.42 and its 200-day moving average is $34.75. First Financial Bankshares, Inc. has a one year low of $29.80 and a one year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Friday, October 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The company had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.21 million. During the same period last year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. First Financial Bankshares’s dividend payout ratio is currently 44.97%.

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.