Los Angeles Capital Management LLC Raises Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Los Angeles Capital Management LLC raised its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 368.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 76,227 shares of the bank's stock after purchasing an additional 59,958 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of First Financial Bankshares worth $2,821,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of First Financial Bankshares by 5.0% in the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank's stock worth $166,000 after purchasing an additional 270 shares during the period. Crewe Advisors LLC grew its position in First Financial Bankshares by 6.0% in the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank's stock worth $155,000 after acquiring an additional 296 shares in the last quarter. Ballentine Partners LLC boosted its position in First Financial Bankshares by 2.8% during the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank's stock valued at $451,000 after buying an additional 333 shares during the period. Kingsview Wealth Management LLC boosted its position in First Financial Bankshares by 2.2% during the first quarter. Kingsview Wealth Management LLC now owns 24,750 shares of the bank's stock valued at $812,000 after buying an additional 544 shares during the period. Finally, Diversified Trust Co raised its stake in shares of First Financial Bankshares by 3.0% during the second quarter. Diversified Trust Co now owns 29,297 shares of the bank's stock valued at $865,000 after acquiring an additional 865 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Stock Down 1.6 %

FFIN traded down $0.68 during trading on Wednesday, hitting $41.81. The company's stock had a trading volume of 510,428 shares, compared to its average volume of 544,254. First Financial Bankshares, Inc. has a one year low of $25.70 and a one year high of $43.57. The business's 50 day simple moving average is $37.30 and its 200-day simple moving average is $33.96. The firm has a market cap of $5.98 billion, a PE ratio of 29.34 and a beta of 0.78.

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 analysts' consensus estimates of $0.39. The company had revenue of $142.10 million for 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%. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, December 13th. First Financial Bankshares's dividend payout ratio is currently 49.66%.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares of the company's stock, valued at $4,156,615.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Stephens raised their price target on First Financial Bankshares from $37.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, Hovde Group lifted 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.

First Financial Bankshares Company 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.