Smart Money Group LLC grew its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 126.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,307 shares of the bank’s stock after buying an additional 20,836 shares during the quarter. First Financial Bankshares accounts for approximately 2.0% of Smart Money Group LLC’s investment portfolio, making the stock its 17th biggest holding. Smart Money Group LLC owned 0.06% of First Financial Bankshares worth $2,205,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of FFIN. Glen Harbor Capital Management LLC raised its holdings in shares of First Financial Bankshares by 14.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,798 shares of the bank’s stock worth $346,000 after purchasing an additional 880 shares during the period. Bbva Compass Bancshares Inc. raised its holdings in First Financial Bankshares by 3.5% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 26,886 shares of the bank’s stock valued at $1,368,000 after acquiring an additional 899 shares during the period. Aperio Group LLC raised its holdings in First Financial Bankshares by 4.7% during the 2nd quarter. Aperio Group LLC now owns 20,910 shares of the bank’s stock valued at $1,064,000 after acquiring an additional 936 shares during the period. Pinebridge Investments L.P. raised its holdings in First Financial Bankshares by 2.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 44,903 shares of the bank’s stock valued at $2,286,000 after acquiring an additional 1,033 shares during the period. Finally, Creative Planning raised its holdings in First Financial Bankshares by 5.3% during the 2nd quarter. Creative Planning now owns 23,851 shares of the bank’s stock valued at $1,214,000 after acquiring an additional 1,203 shares during the period. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Johnny Trotter bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was bought at an average cost of $55.65 per share, for a total transaction of $111,300.00. Following the completion of the transaction, the director now owns 384,926 shares of the company’s stock, valued at $21,421,131.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.77% of the stock is owned by insiders.
A number of equities research analysts have issued reports on FFIN shares. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Robert W. Baird started coverage on shares of First Financial Bankshares in a report on Tuesday, October 16th. They set a “neutral” rating and a $60.00 target price on the stock. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, July 23rd. Finally, Stephens set a $52.00 target price on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.71.
FFIN opened at $61.58 on Monday. The firm has a market cap of $4.17 billion, a PE ratio of 36.22 and a beta of 1.14. First Financial Bankshares Inc has a one year low of $43.05 and a one year high of $61.86.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 18th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $96.48 million during the quarter, compared to analyst estimates of $97.34 million. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that First Financial Bankshares Inc will post 2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 49.41%.
First Financial Bankshares Profile
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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