Bank of New York Mellon Corp Grows Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bank of New York Mellon Corp increased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,856 shares of the bank’s stock after buying an additional 15,473 shares during the period. Bank of New York Mellon Corp’s holdings in First Financial Bankshares were worth $40,629,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. SYSTM Wealth Solutions LLC grew its holdings in First Financial Bankshares by 17.4% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after buying an additional 398 shares during the period. Hexagon Capital Partners LLC grew its holdings in First Financial Bankshares by 81.1% in the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after purchasing an additional 415 shares during the period. Retirement Systems of Alabama increased its position in First Financial Bankshares by 0.3% during the first quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock worth $5,292,000 after purchasing an additional 426 shares during the last quarter. Ballentine Partners LLC raised its stake in First Financial Bankshares by 4.5% during the first quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock worth $398,000 after purchasing an additional 521 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of First Financial Bankshares by 2.2% in the 1st quarter. Blue Trust Inc. now owns 25,470 shares of the bank’s stock valued at $836,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 0.8 %

Shares of FFIN stock opened at $36.57 on Monday. The company’s fifty day simple moving average is $33.87 and its 200-day simple moving average is $31.68. First Financial Bankshares, Inc. has a 52 week low of $22.84 and a 52 week high of $39.53. The company has a market cap of $5.22 billion, a PE ratio of 26.12 and a beta of 0.79.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The company had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.97%. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Insider Transactions at First Financial Bankshares

In other news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average cost of $28.75 per share, with a total value of $51,750.00. Following the acquisition, the director now owns 1,800 shares in the company, valued at $51,750. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Johnny Trotter purchased 1,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the transaction, the director now owns 943,371 shares of the company’s stock, valued at $26,216,280.09. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average cost 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 $51,750. The disclosure for this purchase can be found here. Corporate insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial boosted their price objective on shares of First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Stephens boosted their price target on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th.

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.