Ameriprise Financial Inc. Increases Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Ameriprise Financial Inc. raised its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 480,869 shares of the bank's stock after buying an additional 8,787 shares during the quarter. Ameriprise Financial Inc. owned about 0.34% of First Financial Bankshares worth $17,338,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. bought a new stake in First Financial Bankshares during the fourth quarter worth about $33,000. R Squared Ltd purchased a new position in First Financial Bankshares during the fourth quarter valued at $88,000. Harvest Fund Management Co. Ltd boosted its holdings in First Financial Bankshares by 1,497.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock worth $118,000 after acquiring an additional 3,039 shares in the last quarter. KBC Group NV boosted its holdings in First Financial Bankshares by 50.5% in the fourth quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after acquiring an additional 1,819 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of First Financial Bankshares by 7.4% in the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank's stock worth $195,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FFIN shares. Keefe, Bruyette & Woods dropped their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Hovde Group decreased their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

First Financial Bankshares Stock Performance

Shares of FFIN stock traded down $0.13 during mid-day trading on Tuesday, hitting $35.74. The company's stock had a trading volume of 295,017 shares, compared to its average volume of 544,478. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 22.91 and a beta of 0.89. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The business has a 50-day moving average price of $34.29 and a 200 day moving average price of $36.89.

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

First Financial Bankshares Increases Dividend

The business 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.13%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 16th. First Financial Bankshares's payout ratio is presently 46.91%.

Insider Activity

In related news, Director Johnny Trotter bought 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the acquisition, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 7,099 shares of company stock valued at $247,751 over the last three months. Insiders own 4.22% of the company's stock.

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.