Raymond James Financial Inc. Buys New Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Raymond James Financial Inc. bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 231,361 shares of the bank's stock, valued at approximately $8,341,000. Raymond James Financial Inc. owned 0.16% of First Financial Bankshares as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in First Financial Bankshares by 0.9% during the fourth quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock valued at $1,271,000 after purchasing an additional 302 shares during the period. Aigen Investment Management LP bought a new position in shares of First Financial Bankshares during the 4th quarter worth $237,000. Proficio Capital Partners LLC purchased a new stake in First Financial Bankshares in the 4th quarter worth about $402,000. Assetmark Inc. bought a new stake in First Financial Bankshares in the 4th quarter valued at about $33,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in First Financial Bankshares by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock valued at $61,494,000 after purchasing an additional 4,608 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Buying and Selling

In other news, Director Johnny Trotter purchased 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the transaction, the director now directly owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.22% of the stock is currently owned by insiders.

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First Financial Bankshares Trading Up 0.4 %

Shares of NASDAQ FFIN traded up $0.15 during mid-day trading on Wednesday, hitting $36.65. The company had a trading volume of 341,729 shares, compared to its average volume of 496,406. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 23.49 and a beta of 0.78. The stock's 50-day moving average price is $36.95 and its 200-day moving average price is $37.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its 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%. As a group, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, March 14th. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

Wall Street Analysts Forecast Growth

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

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.