Balyasny Asset Management L.P. Raises Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Balyasny Asset Management L.P. increased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 269.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,869 shares of the bank's stock after acquiring 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 quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank's stock valued at $508,146,000 after purchasing an additional 110,923 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock valued at $101,222,000 after buying an additional 2,730,017 shares during the period. Dimensional Fund Advisors LP grew its position in shares of First Financial Bankshares by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock worth $92,733,000 after buying an additional 42,280 shares in the last quarter. Northern Trust Corp raised its holdings in First Financial Bankshares by 8.1% in the fourth quarter. Northern Trust Corp now owns 1,776,607 shares of the bank's stock valued at $64,047,000 after acquiring an additional 133,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of First Financial Bankshares by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock valued at $61,494,000 after purchasing an additional 4,608 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Trading Up 0.8%

Shares of First Financial Bankshares stock traded up $0.30 during trading on Thursday, reaching $35.96. The company's stock had a trading volume of 305,152 shares, compared to its average volume of 545,589. The firm has a market cap of $5.14 billion, a PE ratio of 23.05 and a beta of 0.89. The company has a 50-day moving average price of $34.25 and a two-hundred day moving average price of $36.89. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. On average, analysts predict 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. Shareholders of record on Monday, June 16th will be paid a $0.19 dividend. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, June 16th. First Financial Bankshares's payout ratio is currently 46.91%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter bought 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price 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. The trade was 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 this hyperlink. In the last three months, insiders have bought 7,099 shares of company stock valued at $247,751. 4.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FFIN. Hovde Group decreased their price target on 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 cut their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

About First Financial Bankshares

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.