Algert Global LLC Acquires 11,015 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Algert Global LLC grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 68.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,994 shares of the bank's stock after acquiring an additional 11,015 shares during the quarter. Algert Global LLC's holdings in First Financial Bankshares were worth $973,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. purchased a new position in First Financial Bankshares in the fourth quarter worth $33,000. R Squared Ltd acquired a new stake in First Financial Bankshares in the 4th quarter worth about $88,000. Harvest Fund Management Co. Ltd lifted its stake in shares of First Financial Bankshares by 1,497.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after purchasing an additional 3,039 shares in the last quarter. KBC Group NV lifted its stake in shares of First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock valued at $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after purchasing an additional 370 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Hovde Group reduced their price target on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st.

Insider Activity

In related news, Director Johnny Trotter bought 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 7,099 shares of company stock worth $247,751 over the last 90 days. 4.22% of the stock is currently owned by company insiders.

First Financial Bankshares Trading Down 0.1%

FFIN traded down $0.05 during trading on Friday, reaching $35.91. 139,843 shares of the company were exchanged, compared to its average volume of 544,259. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66. The stock has a market cap of $5.14 billion, a P/E ratio of 23.02 and a beta of 0.89. The firm has a 50 day moving average of $34.26 and a 200 day moving average of $36.89.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $149.02 million during the quarter, compared to analysts' expectations of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $0.19 dividend. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.12%. First Financial Bankshares's dividend payout ratio is 46.91%.

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.