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Bridges Investment Management Inc. Purchases 26,663 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

First Financial Bankshares logo with Finance background

Bridges Investment Management Inc. lifted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 106.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,641 shares of the bank's stock after acquiring an additional 26,663 shares during the period. Bridges Investment Management Inc.'s holdings in First Financial Bankshares were worth $1,855,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Gibraltar Capital Management Inc. acquired a new stake in shares of First Financial Bankshares during the first quarter worth approximately $1,739,000. Smith Group Asset Management LLC acquired a new stake in shares of First Financial Bankshares during the first quarter worth approximately $222,000. Avidian Wealth Enterprises LLC boosted its holdings in shares of First Financial Bankshares by 125.5% during the first quarter. Avidian Wealth Enterprises LLC now owns 13,833 shares of the bank's stock worth $497,000 after purchasing an additional 7,699 shares during the period. KBC Group NV boosted its holdings in shares of First Financial Bankshares by 6.8% during the first quarter. KBC Group NV now owns 5,792 shares of the bank's stock worth $208,000 after purchasing an additional 370 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of First Financial Bankshares by 53.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,112 shares of the bank's stock worth $432,000 after purchasing an additional 4,197 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Down 1.9%

NASDAQ FFIN traded down $0.71 during trading on Friday, reaching $36.73. The company's stock had a trading volume of 350,627 shares, compared to its average volume of 531,976. The stock has a market capitalization of $5.25 billion, a PE ratio of 22.67 and a beta of 0.87. The business has a 50-day moving average price of $35.85 and a 200-day moving average price of $35.75. First Financial Bankshares, Inc. has a 1-year low of $30.58 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $149.48 million. As a group, analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid a dividend of $0.19 per share. 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 2.07%. The ex-dividend date of this dividend was Monday, June 16th. First Financial Bankshares's dividend payout ratio is presently 46.91%.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of the stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director directly owned 108,708 shares of the company's stock, valued at $3,915,662.16. This represents a 4.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have acquired 6,399 shares of company stock worth $227,646. 4.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FFIN shares. Hovde Group decreased their price target 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 target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

Read Our Latest Stock Report on First Financial Bankshares

First Financial Bankshares Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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