Hsbc Holdings PLC Acquires 12,027 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Hsbc Holdings PLC boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 57.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,902 shares of the bank’s stock after purchasing an additional 12,027 shares during the quarter. Hsbc Holdings PLC’s holdings in First Financial Bankshares were worth $963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Financial Bankshares Inc acquired a new stake in shares of First Financial Bankshares in the fourth quarter worth $553,577,000. Strategic Financial Concepts LLC boosted its holdings in First Financial Bankshares by 3,632.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after purchasing an additional 2,912,718 shares during the period. Champlain Investment Partners LLC grew its position in First Financial Bankshares by 27.6% during the first quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock worth $109,400,000 after buying an additional 720,820 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of First Financial Bankshares by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after purchasing an additional 490,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in First Financial Bankshares by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock worth $75,482,000 after purchasing an additional 130,361 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FFIN. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Stephens lifted their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

First Financial Bankshares Stock Performance

FFIN opened at $36.63 on Friday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 26.16 and a beta of 0.78. The firm’s 50-day simple moving average is $36.36 and its 200-day simple moving average is $32.41. First Financial Bankshares, Inc. has a twelve month low of $22.84 and a twelve month high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The company had revenue of $184.94 million during the quarter, compared to analyst estimates of $134.10 million. As a group, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

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

About First Financial Bankshares

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.