Adell Harriman & Carpenter Inc. acquired a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,500 shares of the bank’s stock, valued at approximately $718,000.
Several other institutional investors and hedge funds also recently made changes to their positions in FFIN. Crewe Advisors LLC acquired a new position in First Financial Bankshares in the fourth quarter worth about $218,000. CIBC Asset Management Inc acquired a new position in First Financial Bankshares in the fourth quarter worth about $233,000. Xact Kapitalforvaltning AB acquired a new position in First Financial Bankshares in the fourth quarter worth about $235,000. Meadow Creek Investment Management LLC raised its position in First Financial Bankshares by 33.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,146 shares of the bank’s stock worth $412,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Smith Asset Management Group LP raised its position in First Financial Bankshares by 10.0% in the first quarter. Smith Asset Management Group LP now owns 12,450 shares of the bank’s stock worth $576,000 after purchasing an additional 1,128 shares in the last quarter. 50.69% of the stock is owned by institutional investors and hedge funds.
FFIN has been the subject of several recent research reports. Sandler O’Neill reissued a “sell” rating and issued a $40.00 price target on shares of First Financial Bankshares in a research report on Friday, January 26th. BidaskClub raised shares of First Financial Bankshares from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th. ValuEngine raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Hovde Group set a $46.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.71.
First Financial Bankshares opened at $52.47 on Monday, according to MarketBeat.com. The company has a market cap of $3.55 billion, a PE ratio of 29.99 and a beta of 1.26. First Financial Bankshares, Inc. has a 1-year low of $37.31 and a 1-year high of $52.85.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $89.87 million during the quarter, compared to analyst estimates of $89.40 million. First Financial Bankshares had a net margin of 36.61% and a return on equity of 12.63%. During the same quarter last year, the business posted $0.40 earnings per share. equities research analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be issued a dividend of $0.21 per share. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, June 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.71%.
In other news, Director David L. Copeland sold 7,362 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $50.68, for a total transaction of $373,106.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have bought 24 shares of company stock valued at $1,041. Company insiders own 4.77% of the company’s stock.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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