JPMorgan Chase & Co. Grows Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

JPMorgan Chase & Co. lifted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 687,300 shares of the bank's stock after purchasing an additional 225,574 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.48% of First Financial Bankshares worth $24,777,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its holdings in shares of First Financial Bankshares by 3,508.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after buying an additional 2,730,017 shares during the last quarter. State Street Corp lifted its position 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 period. Geode Capital Management LLC grew its stake in shares of 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $8,341,000. Finally, Barclays PLC raised its stake 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 during the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

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First Financial Bankshares Stock Performance

FFIN traded up $0.60 during trading on Tuesday, reaching $32.34. The company's stock had a trading volume of 38,847 shares, compared to its average volume of 532,998. The company's fifty day moving average price is $35.72 and its 200-day moving average price is $37.35. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 20.73 and a beta of 0.82.

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

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.23%. First Financial Bankshares's dividend payout ratio is presently 46.15%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Johnny Trotter bought 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.