10,050 Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN) Purchased by Alps Advisors Inc.

Alps Advisors Inc. purchased a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,050 shares of the bank's stock, valued at approximately $361,000.

Other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $402,000. Raymond James Financial Inc. bought a new stake in shares of First Financial Bankshares in the fourth quarter worth $8,341,000. PNC Financial Services Group Inc. grew its stake in shares of First Financial Bankshares by 6.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,545 shares of the bank's stock worth $344,000 after purchasing an additional 547 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Financial Bankshares by 12.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,858 shares of the bank's stock valued at $1,148,000 after acquiring an additional 3,574 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in First Financial Bankshares by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 62,094 shares of the bank's stock valued at $2,239,000 after acquiring an additional 749 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday. Hovde Group reduced their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

First Financial Bankshares Trading Up 3.0%

Shares of FFIN stock traded up $1.12 during trading hours on Friday, hitting $37.91. 156,588 shares of the company were exchanged, compared to its average volume of 522,615. The firm has a fifty day simple moving average of $36.01 and a 200 day simple moving average of $35.75. First Financial Bankshares, Inc. has a 52-week low of $30.58 and a 52-week high of $44.66. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 23.46 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. During the same period last year, the firm earned $0.37 EPS. Sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.00%. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's payout ratio is currently 46.91%.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny acquired 5,000 shares of the stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares in the company, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 6,399 shares of company stock valued at $227,646 in the last quarter. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares 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.