Edgestream Partners L.P. Takes $3.84 Million Position in First Financial Bankshares, Inc. $FFIN

Edgestream Partners L.P. acquired a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 106,719 shares of the bank’s stock, valued at approximately $3,840,000.

A number of other large investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in First Financial Bankshares in the 1st quarter worth approximately $36,000. Smartleaf Asset Management LLC increased its stake in shares of First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock worth $45,000 after acquiring an additional 404 shares during the period. Quarry LP raised its holdings in shares of First Financial Bankshares by 336.9% during the first quarter. Quarry LP now owns 1,573 shares of the bank’s stock worth $57,000 after purchasing an additional 1,213 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of First Financial Bankshares by 33.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock worth $60,000 after purchasing an additional 412 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in First Financial Bankshares during the first quarter valued at $96,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Up 1.7%

Shares of First Financial Bankshares stock opened at $31.65 on Thursday. The firm has a market cap of $4.53 billion, a PE ratio of 18.73 and a beta of 0.85. First Financial Bankshares, Inc. has a twelve month low of $29.80 and a twelve month high of $41.89. The business has a 50-day moving average price of $31.85 and a 200 day moving average price of $34.52.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, October 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.21 million. First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 44.97%.

Analyst Ratings Changes

FFIN has been the topic of several analyst reports. Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research report on Monday, October 27th. Keefe, Bruyette & Woods dropped their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Cantor Fitzgerald initiated coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Insider Buying and Selling at First Financial Bankshares

In related news, CFO Michelle S. Hickox acquired 2,000 shares of First Financial Bankshares stock in a transaction on Tuesday, October 28th. The stock was bought at an average cost of $31.15 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief financial officer owned 24,461 shares of the company’s stock, valued at approximately $761,960.15. The trade was a 8.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sally Pope Davis bought 1,700 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $30.73 per share, for a total transaction of $52,241.00. Following the transaction, the director owned 6,971 shares of the company’s stock, valued at approximately $214,218.83. This trade represents a 32.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 4,353 shares of company stock valued at $134,888. 3.96% of the stock is owned by insiders.

First Financial Bankshares Company 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.