Proficio Capital Partners LLC Takes Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Proficio Capital Partners LLC bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,139 shares of the bank's stock, valued at approximately $402,000.

A number of other large investors have also added to or reduced their stakes in FFIN. State Street Corp lifted its position in First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank's stock worth $231,381,000 after acquiring an additional 281,166 shares during the last quarter. Geode Capital Management LLC boosted its stake in First Financial Bankshares by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank's stock valued at $124,446,000 after purchasing an additional 249,011 shares during the period. Strategic Financial Concepts LLC grew its holdings in First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock valued at $101,222,000 after buying an additional 2,730,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in First Financial Bankshares by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock worth $61,494,000 after buying an additional 4,608 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of First Financial Bankshares by 39.6% during the third quarter. JPMorgan Chase & Co. now owns 461,726 shares of the bank's stock worth $17,088,000 after buying an additional 131,063 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

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Insiders Place Their Bets

In related news, Director Johnny Trotter bought 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.22% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN traded up $0.03 during midday trading on Thursday, reaching $36.68. The stock had a trading volume of 57,569 shares, compared to its average volume of 495,233. The company's 50 day moving average price is $36.94 and its 200 day moving average price is $37.73. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 23.54 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

About First Financial Bankshares

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.