Vanguard Group Inc. Grows Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Vanguard Group Inc. boosted its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,095,584 shares of the bank's stock after purchasing an additional 110,923 shares during the quarter. Vanguard Group Inc. owned approximately 9.86% of First Financial Bankshares worth $508,146,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC boosted its position in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after buying an additional 2,730,017 shares in the last quarter. State Street Corp raised its position in First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank's stock worth $231,381,000 after acquiring an additional 281,166 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Financial Bankshares by 8.0% in the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank's stock valued at $124,446,000 after purchasing an additional 249,011 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $8,341,000. Finally, Barclays PLC increased its stake in shares of First Financial Bankshares by 83.0% during the 3rd quarter. Barclays PLC now owns 289,468 shares of the bank's stock worth $10,714,000 after purchasing an additional 131,259 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their target price on First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a report on Monday, January 27th.

Remove Ads

First Financial Bankshares Price Performance

Shares of NASDAQ FFIN opened at $35.69 on Wednesday. The company has a market cap of $5.10 billion, a PE ratio of 22.88 and a beta of 0.78. The company has a 50-day simple moving average of $36.85 and a 200-day simple moving average of $37.74. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. On average, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.02%. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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.

Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.