Charles Schwab Investment Management Inc. Has $62.96 Million Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Charles Schwab Investment Management Inc. boosted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,701,180 shares of the bank's stock after purchasing an additional 62,538 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of First Financial Bankshares worth $62,961,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC lifted its position in shares of First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank's stock worth $884,000 after buying an additional 2,912,718 shares during the period. Emerald Advisers LLC acquired a new position in First Financial Bankshares in the 3rd quarter worth $8,235,000. Cubist Systematic Strategies LLC lifted its position in First Financial Bankshares by 10,296.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 189,732 shares of the bank's stock worth $5,603,000 after buying an additional 187,907 shares in the last quarter. Natixis Advisors LLC grew its position in shares of First Financial Bankshares by 37.5% in the 3rd quarter. Natixis Advisors LLC now owns 613,381 shares of the bank's stock valued at $22,701,000 after acquiring an additional 167,433 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in First Financial Bankshares by 784.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 185,053 shares of the bank's stock valued at $6,849,000 after acquiring an additional 164,133 shares during the period. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Price Performance

Shares of FFIN stock traded down $0.35 during mid-day trading on Friday, hitting $41.68. 334,018 shares of the stock traded hands, compared to its average volume of 539,151. The stock's fifty day moving average is $38.62 and its two-hundred day moving average is $34.92. The stock has a market cap of $5.96 billion, a P/E ratio of 28.74 and a beta of 0.78. First Financial Bankshares, Inc. has a 52-week low of $25.99 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares's dividend payout ratio (DPR) is 49.66%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stephens boosted their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Hovde Group raised their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Finally, Truist Financial increased their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, September 20th.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the business's stock in a transaction on 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 sale, the director now owns 101,085 shares in the company, valued at $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.22% of the company's stock.

First Financial Bankshares Company 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.