CIBC Asset Management Inc purchased a new position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,174 shares of the bank’s stock, valued at approximately $233,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of FFIN. Kayne Anderson Rudnick Investment Management LLC lifted its position in First Financial Bankshares by 37.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,396,940 shares of the bank’s stock worth $63,142,000 after acquiring an additional 383,924 shares during the period. Wells Fargo & Company MN lifted its position in First Financial Bankshares by 63.8% during the 3rd quarter. Wells Fargo & Company MN now owns 361,052 shares of the bank’s stock worth $16,320,000 after acquiring an additional 140,635 shares during the period. Dimensional Fund Advisors LP lifted its position in First Financial Bankshares by 5.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,840 shares of the bank’s stock worth $51,475,000 after acquiring an additional 60,011 shares during the period. SG Americas Securities LLC acquired a new stake in First Financial Bankshares during the 3rd quarter worth about $1,588,000. Finally, Schwab Charles Investment Management Inc. lifted its position in First Financial Bankshares by 7.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 343,764 shares of the bank’s stock worth $15,539,000 after acquiring an additional 25,301 shares during the period. 51.15% of the stock is owned by institutional investors.
First Financial Bankshares Inc (NASDAQ FFIN) opened at $47.00 on Thursday. The stock has a market capitalization of $3,028.10, a PE ratio of 25.97 and a beta of 1.37. First Financial Bankshares Inc has a fifty-two week low of $36.85 and a fifty-two week high of $48.85.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The company had revenue of $83.20 million during the quarter, compared to analyst estimates of $90.40 million. First Financial Bankshares had a net margin of 35.72% and a return on equity of 12.61%. research analysts anticipate that First Financial Bankshares Inc will post 2.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. First Financial Bankshares’s dividend payout ratio is presently 41.99%.
In other First Financial Bankshares news, Director Johnny Trotter purchased 11,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $45.10 per share, for a total transaction of $514,140.00. Following the purchase, the director now directly owns 388,938 shares in the company, valued at $17,541,103.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Copeland sold 1,368 shares of First Financial Bankshares stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $45.52, for a total value of $62,271.36. Following the completion of the transaction, the director now owns 33,379 shares of the company’s stock, valued at approximately $1,519,412.08. The disclosure for this sale can be found here. 5.40% of the stock is owned by insiders.
Several equities analysts have recently issued reports on FFIN shares. Zacks Investment Research raised First Financial Bankshares from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, October 26th. SunTrust Banks reissued a “hold” rating and issued a $48.00 price objective on shares of First Financial Bankshares in a report on Tuesday, January 9th. BidaskClub cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 price objective on shares of First Financial Bankshares in a report on Friday, October 20th. Finally, Hovde Group set a $46.00 price objective on First Financial Bankshares and gave the company a “hold” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.14.
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First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. The Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, First Financial Insurance Agency, Inc, Abilene, Texas, Commercial Bancshares, Inc, and Commercial State Bank, Kingwood, Texas.
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