Royce & Associates LP Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Royce & Associates LP raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.5% in the third quarter, Holdings Channel reports. The institutional investor owned 127,017 shares of the bank’s stock after purchasing an additional 38,474 shares during the period. Royce & Associates LP’s holdings in First Financial Bankshares were worth $4,701,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FFIN. Vanguard Group Inc. raised its holdings in First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after purchasing an additional 490,770 shares during the period. SG Americas Securities LLC increased its stake in shares of First Financial Bankshares by 480.0% during the second quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after purchasing an additional 32,774 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of First Financial Bankshares during the 1st quarter worth about $1,100,000. Bridges Investment Management Inc. purchased a new position in First Financial Bankshares in the 2nd quarter valued at about $637,000. Finally, Bank of New York Mellon Corp boosted its holdings in First Financial Bankshares by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock worth $40,629,000 after buying an additional 15,473 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Down 0.2 %

NASDAQ FFIN opened at $41.25 on Tuesday. The firm has a market cap of $5.90 billion, a PE ratio of 28.45 and a beta of 0.78. The business’s fifty day simple moving average is $37.76 and its 200-day simple moving average is $34.28. First Financial Bankshares, Inc. has a 52 week low of $25.99 and a 52 week high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm 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%. Research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

FFIN has been the topic of several research reports. Truist Financial raised their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Stephens raised their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group raised their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st.

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.