Geode Capital Management LLC Purchases 249,011 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Geode Capital Management LLC grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,361,921 shares of the bank's stock after buying an additional 249,011 shares during the period. Geode Capital Management LLC owned 2.35% of First Financial Bankshares worth $124,446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank's stock valued at $88,000 after purchasing an additional 577 shares during the last quarter. Quarry LP bought a new position in First Financial Bankshares in the second quarter valued at approximately $83,000. Point72 DIFC Ltd bought a new stake in shares of First Financial Bankshares during the 2nd quarter valued at $97,000. Point72 Asset Management L.P. acquired a new position in shares of First Financial Bankshares in the 2nd quarter valued at $118,000. Finally, US Bancorp DE boosted its position in shares of First Financial Bankshares by 50.9% in the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank's stock worth $186,000 after purchasing an additional 1,696 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Price Performance

FFIN traded down $2.47 during trading on Wednesday, reaching $36.73. The company had a trading volume of 779,732 shares, compared to its average volume of 534,405. The business's fifty day moving average price is $39.64 and its 200 day moving average price is $35.84. First Financial Bankshares, Inc. has a 12 month low of $27.06 and a 12 month high of $44.66. The company has a market cap of $5.25 billion, a P/E ratio of 25.33 and a beta of 0.81.

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

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, December 13th. First Financial Bankshares's dividend payout ratio (DPR) is currently 49.66%.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the sale, the director now owns 101,085 shares of the company's stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Scott Dueser sold 25,000 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.73, for a total value of $1,018,250.00. Following the sale, the chief executive officer now owns 471,004 shares in the company, valued at $19,183,992.92. The trade was a 5.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FFIN shares. Keefe, Bruyette & Woods increased their target price on First Financial Bankshares from $36.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Stephens lifted their price objective 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. Truist Financial increased their target price 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. Finally, Hovde Group boosted their price target on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a "market perform" rating in a report on Monday, October 21st.

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.