First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 125.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,833 shares of the bank's stock after buying an additional 7,699 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in First Financial Bankshares were worth $497,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after buying an additional 441 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares in the first quarter valued at approximately $26,000. Assetmark Inc. acquired a new position in First Financial Bankshares in the fourth quarter valued at approximately $33,000. UMB Bank n.a. boosted its position in First Financial Bankshares by 245.6% in the 1st quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after purchasing an additional 1,353 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First Financial Bankshares by 89.9% during the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after purchasing an additional 912 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Michael B. Denny acquired 5,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the acquisition, the director owned 108,708 shares in the company, valued at $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 the SEC website. Insiders have bought a total of 6,399 shares of company stock worth $227,646 over the last ninety days. Company insiders own 4.22% of the company's stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN traded up $0.18 during midday trading on Friday, hitting $37.74. The company's stock had a trading volume of 474,172 shares, compared to its average volume of 535,842. The company has a market cap of $5.40 billion, a P/E ratio of 23.30 and a beta of 0.87. First Financial Bankshares, Inc. has a 12-month low of $28.35 and a 12-month high of $44.66. The business's 50 day simple moving average is $35.43 and its 200 day simple moving average is $35.73.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced 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. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. The firm had revenue of $149.02 million for the quarter, compared to analysts' expectations of $149.48 million. On average, sell-side 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 business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's dividend payout ratio (DPR) is 46.91%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FFIN. 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 research note on Monday, April 21st. 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 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.