Geode Capital Management LLC Has $119.47 Million Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Geode Capital Management LLC reduced its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,313,218 shares of the bank's stock after selling 48,703 shares during the period. Geode Capital Management LLC owned 2.32% of First Financial Bankshares worth $119,467,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in First Financial Bankshares by 4.7% during the 3rd 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. Barclays PLC boosted its position in shares of First Financial Bankshares by 83.0% during the third quarter. Barclays PLC now owns 289,468 shares of the bank's stock worth $10,714,000 after purchasing an additional 131,259 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of First Financial Bankshares in the 4th quarter valued at $402,000. Atria Wealth Solutions Inc. increased its position in shares of First Financial Bankshares by 26.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 43,335 shares of the bank's stock valued at $1,567,000 after buying an additional 9,056 shares in the last quarter. Finally, FMR LLC raised its stake in First Financial Bankshares by 71.9% during the 3rd quarter. FMR LLC now owns 113,407 shares of the bank's stock worth $4,197,000 after buying an additional 47,417 shares during the period. Institutional investors and hedge funds own 69.78% of the company's stock.

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Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a report on Monday, January 27th.

First Financial Bankshares Stock Performance

FFIN traded up $0.13 on Monday, hitting $31.43. 39,567 shares of the company were exchanged, compared to its average volume of 542,763. The stock's fifty day moving average is $35.86 and its 200-day moving average is $37.38. The company has a market cap of $4.49 billion, a PE ratio of 20.14 and a beta of 0.82. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66.

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 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%. As a group, equities research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, March 14th. First Financial Bankshares's payout ratio is currently 46.15%.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.22% of the company's stock.

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.