Natixis Advisors LLC Purchases 167,433 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Natixis Advisors LLC lifted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 37.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 613,381 shares of the bank's stock after purchasing an additional 167,433 shares during the quarter. Natixis Advisors LLC owned 0.43% of First Financial Bankshares worth $22,701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FFIN. State Board of Administration of Florida Retirement System lifted its stake in First Financial Bankshares by 28.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 47,936 shares of the bank's stock worth $1,529,000 after acquiring an additional 10,710 shares in the last quarter. Vanguard Group Inc. lifted its stake in First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank's stock worth $490,717,000 after acquiring an additional 490,770 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in First Financial Bankshares in the 1st quarter worth about $1,100,000. Edgestream Partners L.P. purchased a new stake in First Financial Bankshares in the 1st quarter worth about $370,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in First Financial Bankshares by 29.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,709 shares of the bank's stock worth $614,000 after acquiring an additional 4,221 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

Insider Activity at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares 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 directly owns 101,085 shares of the company's stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FFIN. Truist Financial increased their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock 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 stock an "equal weight" rating in a research note on Friday, October 18th. Finally, Hovde Group raised their price target on First Financial Bankshares from $34.50 to $40.00 and gave the stock a "market perform" rating in a research note on Monday, October 21st.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock traded down $0.50 during midday trading on Tuesday, hitting $40.75. The company had a trading volume of 89,117 shares, compared to its average volume of 540,874. First Financial Bankshares, Inc. has a 1-year low of $25.99 and a 1-year high of $43.57. The business's 50 day simple moving average is $37.76 and its two-hundred day simple moving average is $34.28. The stock has a market cap of $5.82 billion, a PE ratio of 28.45 and a beta of 0.78.

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

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.77%. First Financial Bankshares's dividend payout ratio (DPR) is currently 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.