HighTower Advisors LLC Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

HighTower Advisors LLC grew its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 18.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,345 shares of the bank’s stock after purchasing an additional 9,519 shares during the quarter. HighTower Advisors LLC’s holdings in First Financial Bankshares were worth $2,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in FFIN. Holocene Advisors LP boosted its position in shares of First Financial Bankshares by 367.9% in the 3rd quarter. Holocene Advisors LP now owns 79,084 shares of the bank’s stock valued at $2,927,000 after purchasing an additional 62,183 shares during the period. Centiva Capital LP acquired a new stake in shares of First Financial Bankshares in the third quarter valued at approximately $657,000. Captrust Financial Advisors purchased a new position in shares of First Financial Bankshares during the third quarter worth approximately $205,000. BNP Paribas Financial Markets increased its holdings in shares of First Financial Bankshares by 37.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 121,214 shares of the bank’s stock valued at $4,486,000 after acquiring an additional 32,813 shares during the period. Finally, FMR LLC raised its position in First Financial Bankshares by 71.9% in the 3rd quarter. FMR LLC now owns 113,407 shares of the bank’s stock valued at $4,197,000 after purchasing an additional 47,417 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Stock Up 0.0 %

Shares of NASDAQ:FFIN opened at $40.47 on Friday. First Financial Bankshares, Inc. has a fifty-two week low of $27.06 and a fifty-two week high of $44.66. The firm’s 50-day simple moving average is $39.38 and its 200-day simple moving average is $35.54. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 27.91 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $142.10 million for 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%. On average, research analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s payout ratio is 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares in the company, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FFIN has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Truist Financial raised their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Stephens upped their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Hovde Group lifted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note 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.