Diversified Trust Co Raises Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Diversified Trust Co increased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 60.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,432 shares of the bank’s stock after acquiring an additional 10,750 shares during the period. Diversified Trust Co’s holdings in First Financial Bankshares were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Financial Bankshares Inc purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at about $553,577,000. Norges Bank purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at about $42,435,000. Natixis Advisors L.P. raised its stake in shares of First Financial Bankshares by 39.7% during the 4th quarter. Natixis Advisors L.P. now owns 447,970 shares of the bank’s stock valued at $13,573,000 after buying an additional 127,397 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of First Financial Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock valued at $438,306,000 after buying an additional 120,252 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of First Financial Bankshares by 98.5% during the 4th quarter. UBS Group AG now owns 239,068 shares of the bank’s stock valued at $7,244,000 after buying an additional 118,623 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction dated Thursday, June 6th. The shares were acquired at an average cost of $28.75 per share, for a total transaction of $51,750.00. Following the acquisition, the director now directly owns 1,800 shares in the company, valued at approximately $51,750. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other First Financial Bankshares news, Director Johnny Trotter acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were purchased at an average cost of $30.22 per share, for a total transaction of $45,330.00. Following the completion of the acquisition, the director now owns 940,371 shares of the company’s stock, valued at approximately $28,418,011.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sally Pope Davis acquired 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $28.75 per share, for a total transaction of $51,750.00. Following the completion of the acquisition, the director now directly owns 1,800 shares of the company’s stock, valued at approximately $51,750. The disclosure for this purchase can be found here. In the last three months, insiders have bought 6,743 shares of company stock worth $199,526. Insiders own 4.22% of the company’s stock.

Analyst Ratings Changes

FFIN has been the subject of several recent analyst reports. Stephens cut their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Truist Financial cut their price target on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, April 22nd.

First Financial Bankshares Stock Down 2.2 %

Shares of First Financial Bankshares stock opened at $28.89 on Tuesday. First Financial Bankshares, Inc. has a twelve month low of $22.84 and a twelve month high of $33.15. The firm has a market cap of $4.13 billion, a PE ratio of 20.64 and a beta of 0.80. The business has a 50-day moving average price of $29.75 and a 200 day moving average price of $30.33.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The company had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period in the previous year, the firm posted $0.39 EPS. First Financial Bankshares’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.48 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, June 14th. First Financial Bankshares’s payout ratio is 51.43%.

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.