Phocas Financial Corp. Makes New $3.52 Million Investment in First Financial Bankshares, Inc. $FFIN

Phocas Financial Corp. acquired a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 117,686 shares of the bank’s stock, valued at approximately $3,515,000.

Several other large investors also recently modified their holdings of FFIN. HHM Wealth Advisors LLC acquired a new position in First Financial Bankshares in the third quarter valued at about $25,000. Corsicana & Co. acquired a new position in shares of First Financial Bankshares in the 3rd quarter valued at approximately $27,000. Olistico Wealth LLC bought a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $30,000. Quarry LP boosted its position in shares of First Financial Bankshares by 66.3% during the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after acquiring an additional 409 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in First Financial Bankshares in the third quarter valued at approximately $50,000. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Price Performance

Shares of FFIN opened at $29.98 on Monday. The stock has a market cap of $4.29 billion, a PE ratio of 16.94 and a beta of 0.82. First Financial Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $38.74. The business has a 50-day simple moving average of $31.32 and a two-hundred day simple moving average of $31.67.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $164.72 million during the quarter, compared to the consensus estimate of $165.70 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.First Financial Bankshares’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.19 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.5%. First Financial Bankshares’s dividend payout ratio is presently 42.94%.

Insider Buying and Selling at First Financial Bankshares

In other news, CFO Michelle S. Hickox purchased 1,000 shares of the stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $29.50 per share, for a total transaction of $29,500.00. Following the acquisition, the chief financial officer owned 11,861 shares in the company, valued at $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Johnny Trotter acquired 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, March 12th. The stock was purchased at an average cost of $29.26 per share, for a total transaction of $29,260.00. Following the completion of the purchase, the director owned 956,444 shares in the company, valued at approximately $27,985,551.44. The trade was a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 21,629 shares of company stock worth $681,060. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.