First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 39.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 461,726 shares of the bank's stock after purchasing an additional 131,063 shares during the period. JPMorgan Chase & Co. owned 0.32% of First Financial Bankshares worth $17,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP bought a new stake in First Financial Bankshares in the second quarter worth $83,000. Huntington National Bank raised its holdings in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank's stock worth $88,000 after purchasing an additional 577 shares in the last quarter. Point72 DIFC Ltd purchased a new position in First Financial Bankshares in the second quarter worth $97,000. Point72 Asset Management L.P. acquired a new position in First Financial Bankshares during the 2nd quarter valued at about $118,000. Finally, US Bancorp DE increased its stake in First Financial Bankshares by 50.9% during the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank's stock valued at $186,000 after purchasing an additional 1,696 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FFIN. Keefe, Bruyette & Woods lifted their price objective 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 boosted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Truist Financial increased their price target 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, Hovde Group raised 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 research report on Monday, October 21st.

First Financial Bankshares Stock Down 3.4 %

FFIN stock traded down $1.23 during trading on Friday, hitting $34.78. The company had a trading volume of 602,410 shares, compared to its average volume of 595,735. The firm has a 50-day moving average price of $39.29 and a 200-day moving average price of $36.70. The firm has a market cap of $4.97 billion, a PE ratio of 23.99 and a beta of 0.81. First Financial Bankshares, Inc. has a 1-year low of $27.06 and a 1-year high of $44.66.

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

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, December 13th. First Financial Bankshares's payout ratio is 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, CEO F Scott Dueser sold 25,000 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares of the company's stock, valued at approximately $19,183,992.92. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael B. Denny sold 7,000 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value 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. This represents a 6.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.22% of the stock is owned by corporate insiders.

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.