Proficio Capital Partners LLC Takes Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Proficio Capital Partners LLC purchased a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the fourth quarter, HoldingsChannel reports. The fund purchased 11,139 shares of the bank’s stock, valued at approximately $402,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in First Financial Bankshares during the 3rd quarter worth $673,000. State Street Corp lifted its position in shares of 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 purchasing an additional 281,166 shares during the last quarter. Citigroup Inc. grew its stake in First Financial Bankshares by 27.0% in the third quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock worth $9,273,000 after purchasing an additional 53,195 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in First Financial Bankshares by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank’s stock valued at $62,961,000 after buying an additional 62,538 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in First Financial Bankshares by 27.0% in the third quarter. Thrivent Financial for Lutherans now owns 53,326 shares of the bank’s stock valued at $1,973,000 after buying an additional 11,329 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Johnny Trotter acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $36.81 on Tuesday. The company’s fifty day moving average is $36.94 and its two-hundred day moving average is $37.73. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 23.60 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 46.15%.

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 stock a “market perform” rating in a report on Monday, January 27th.

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.