Balyasny Asset Management L.P. Acquires 67,009 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Balyasny Asset Management L.P. grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 269.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,869 shares of the bank's stock after purchasing an additional 67,009 shares during the period. Balyasny Asset Management L.P. owned about 0.06% of First Financial Bankshares worth $3,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FFIN. Strategic Financial Concepts LLC raised its holdings in shares of First Financial Bankshares by 3,508.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock valued at $101,222,000 after purchasing an additional 2,730,017 shares during the last quarter. Norges Bank purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $47,757,000. Axiom Investors LLC DE purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $16,937,000. Raymond James Financial Inc. purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $8,341,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of First Financial Bankshares by 48.9% in the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank's stock valued at $24,777,000 after purchasing an additional 225,574 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Down 0.3%

FFIN traded down $0.10 during trading on Friday, hitting $35.86. 437,639 shares of the company traded hands, compared to its average volume of 546,426. The firm has a market cap of $5.13 billion, a P/E ratio of 22.99 and a beta of 0.89. The stock's fifty day moving average is $34.28 and its 200 day moving average is $36.89. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66.

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

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.19 dividend. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date 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 (DPR) is presently 46.91%.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter acquired 6,000 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the purchase, the director now owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 7,099 shares of company stock valued at $247,751 over the last quarter. Company insiders own 4.22% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FFIN. Hovde Group lowered 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. Keefe, Bruyette & Woods reduced their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research report on Monday, April 21st.

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.