First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,563 shares of the bank’s stock after acquiring an additional 5,199 shares during the period. Raymond James & Associates’ holdings in First Financial Bankshares were worth $1,744,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in First Financial Bankshares in the third quarter worth $593,000. Tudor Investment Corp Et Al acquired a new stake in First Financial Bankshares in the third quarter worth $2,424,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of First Financial Bankshares during the third quarter valued at $1,758,000. Aigen Investment Management LP increased its holdings in shares of First Financial Bankshares by 209.9% during the third quarter. Aigen Investment Management LP now owns 35,657 shares of the bank’s stock valued at $896,000 after purchasing an additional 24,152 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of First Financial Bankshares by 58.7% during the third quarter. Envestnet Asset Management Inc. now owns 304,771 shares of the bank’s stock valued at $7,656,000 after purchasing an additional 112,773 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Truist Financial lowered their price target on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, Stephens raised their price target on First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.75.

First Financial Bankshares Stock Down 1.3 %

Shares of FFIN stock opened at $28.65 on Thursday. The stock has a 50-day simple moving average of $31.19 and a 200 day simple moving average of $28.81. First Financial Bankshares, Inc. has a fifty-two week low of $22.84 and a fifty-two week high of $33.15. The stock has a market capitalization of $4.09 billion, a P/E ratio of 20.46 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, January 25th. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). First Financial Bankshares had a net margin of 31.28% and a return on equity of 14.53%. The firm had revenue of $119.49 million for the quarter, compared to the consensus estimate of $125.09 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.45 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.51%. 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.