BNP Paribas Financial Markets Acquires 32,813 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

BNP Paribas Financial Markets raised its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 37.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,214 shares of the bank’s stock after purchasing an additional 32,813 shares during the period. BNP Paribas Financial Markets owned 0.08% of First Financial Bankshares worth $4,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC increased its position in shares of First Financial Bankshares by 71.9% during the third quarter. FMR LLC now owns 113,407 shares of the bank’s stock valued at $4,197,000 after buying an additional 47,417 shares during the period. Advantage Alpha Capital Partners LP lifted its stake in shares of First Financial Bankshares by 22.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 14,966 shares of the bank’s stock valued at $554,000 after purchasing an additional 2,754 shares during the period. Algert Global LLC boosted its position in shares of First Financial Bankshares by 30.8% during the third quarter. Algert Global LLC now owns 15,979 shares of the bank’s stock valued at $591,000 after purchasing an additional 3,760 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in First Financial Bankshares by 6.9% in the third quarter. Kingsview Wealth Management LLC now owns 26,337 shares of the bank’s stock worth $975,000 after purchasing an additional 1,705 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in First Financial Bankshares by 6.8% during the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after buying an additional 223,640 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Price Performance

FFIN stock opened at $40.85 on Wednesday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 28.17 and a beta of 0.81. First Financial Bankshares, Inc. has a 1-year low of $26.54 and a 1-year high of $44.66. The business has a fifty day moving average price of $38.76 and a 200-day moving average price of $35.10.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Analysts Set New Price Targets

Several research analysts recently issued reports on FFIN shares. Truist Financial increased their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Stephens lifted their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group raised their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st.

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.