Intech Investment Management LLC Acquires New Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Intech Investment Management LLC bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,182 shares of the bank's stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FFIN. Lindenwold Advisors INC raised its position in shares of First Financial Bankshares by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank's stock valued at $336,000 after acquiring an additional 250 shares during the period. Thrivent Financial for Lutherans grew its stake in First Financial Bankshares by 27.0% in the third quarter. Thrivent Financial for Lutherans now owns 53,326 shares of the bank's stock valued at $1,973,000 after acquiring an additional 11,329 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of First Financial Bankshares by 43.2% in the third quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank's stock worth $14,578,000 after acquiring an additional 118,830 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of First Financial Bankshares by 37.5% during the 3rd quarter. Natixis Advisors LLC now owns 613,381 shares of the bank's stock valued at $22,701,000 after purchasing an additional 167,433 shares in the last quarter. Finally, Royce & Associates LP increased its stake in First Financial Bankshares by 43.5% during the 3rd quarter. Royce & Associates LP now owns 127,017 shares of the bank's stock worth $4,701,000 after purchasing an additional 38,474 shares in the last quarter. 69.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael B. Denny sold 7,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now owns 101,085 shares of the company's stock, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock traded down $0.35 during midday trading on Friday, hitting $41.68. 334,018 shares of the company traded hands, compared to its average volume of 536,692. The firm's fifty day moving average price is $38.62 and its 200-day moving average price is $34.94. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 28.74 and a beta of 0.78. First Financial Bankshares, Inc. has a 12 month low of $25.99 and a 12 month high of $44.66.

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

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. 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 presently 49.66%.

First Financial Bankshares 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.