LPL Financial LLC Has $979,000 Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

LPL Financial LLC grew its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 86.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,150 shares of the bank's stock after acquiring an additional 12,582 shares during the quarter. LPL Financial LLC's holdings in First Financial Bankshares were worth $979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. bought a new stake in shares of First Financial Bankshares during the 4th quarter valued at $33,000. R Squared Ltd acquired a new position in First Financial Bankshares in the fourth quarter valued at about $88,000. Harvest Fund Management Co. Ltd lifted its position in First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock worth $118,000 after purchasing an additional 3,039 shares during the period. KBC Group NV grew its stake in First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after buying an additional 1,819 shares in the last quarter. Finally, US Bancorp DE increased its holdings in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after buying an additional 370 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Hovde Group cut their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday. Keefe, Bruyette & Woods cut their target price on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research note on Monday.

First Financial Bankshares Stock Performance

Shares of FFIN traded down $0.56 during mid-day trading on Friday, reaching $33.22. The company had a trading volume of 84,092 shares, compared to its average volume of 542,373. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 21.27 and a beta of 0.82. The company's 50 day simple moving average is $34.97 and its 200 day simple moving average is $37.16. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The firm had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's payout ratio is 44.44%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter bought 6,000 shares of First Financial Bankshares stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. The trade was a 0.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have bought 7,041 shares of company stock worth $247,992. 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.