First Financial Bankshares, Inc. $FFIN Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5,632.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,346 shares of the bank’s stock after purchasing an additional 35,712 shares during the period. Fifth Third Bancorp’s holdings in First Financial Bankshares were worth $1,070,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FFIN. Quarry LP raised its stake in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares during the period. Danske Bank A S boosted its position in First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after purchasing an additional 800 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in First Financial Bankshares during the 4th quarter worth $44,000. CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $50,000. Finally, State of Wyoming acquired a new stake in First Financial Bankshares in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insider Activity at First Financial Bankshares

In related news, Director Murray Hamilton Edwards purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the director owned 44,634 shares of the company’s stock, valued at $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $34.68 on Friday. First Financial Bankshares, Inc. has a one year low of $28.11 and a one year high of $38.12. The business’s 50-day simple moving average is $33.65 and its 200 day simple moving average is $32.31. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 18.55 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million during the quarter, compared to the consensus estimate of $173.03 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were paid a dividend of $0.22 per share. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FFIN. Weiss Ratings raised First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods lowered their target price on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Finally, Benchmark initiated coverage on First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Financial Bankshares has a consensus rating of “Moderate Buy” and an average price target of $36.75.

First Financial Bankshares 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.