Raymond James Financial Inc. bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Free Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 231,361 shares of the bank’s stock, valued at approximately $8,341,000.
A number of other hedge funds have also modified their holdings of FFIN. Assetmark Inc. acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at about $88,000. KBC Group NV increased its holdings in shares of First Financial Bankshares by 50.5% in the fourth quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after purchasing an additional 1,819 shares during the period. US Bancorp DE increased its holdings in shares of First Financial Bankshares by 7.4% in the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock valued at $195,000 after purchasing an additional 370 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of First Financial Bankshares in the third quarter valued at about $205,000. 69.78% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods increased their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, January 27th.
Read Our Latest Stock Analysis on FFIN
First Financial Bankshares Stock Up 0.1 %
Shares of FFIN opened at $35.70 on Friday. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 22.88 and a beta of 0.78. The stock’s 50-day moving average price is $36.90 and its 200-day moving average price is $37.71.
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.
First Financial Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.02%. First Financial Bankshares’s payout ratio is 46.15%.
Insider Transactions at First Financial Bankshares
In related news, Director Johnny Trotter bought 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.22% of the company’s stock.
First Financial Bankshares Profile
(Free Report)
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.
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