Deutsche Bank AG Increases Stake in First Financial Bankshares, Inc. $FFIN

Key Points

• Deutsche Bank AG increased its stake in First Financial Bankshares by 56.5% in Q1, now owning 180,271 shares worth approximately $6.48 million.
• Several institutional investors have significantly increased their holdings in First Financial Bankshares, with Cubist Systematic Strategies LLC boosting their stake by 1,719.8% in the fourth quarter.
• First Financial Bankshares announced a quarterly dividend of $0.19 to be paid on October 1st, reflecting an annual yield of 2.1%.

Deutsche Bank AG lifted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 56.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 180,271 shares of the bank's stock after acquiring an additional 65,104 shares during the period. Deutsche Bank AG owned approximately 0.13% of First Financial Bankshares worth $6,475,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after purchasing an additional 441 shares during the period. Investment Research & Advisory Group Inc. purchased a new position in First Financial Bankshares in the 1st quarter worth $26,000. Assetmark Inc. raised its position in First Financial Bankshares by 76.5% in the 1st quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock worth $59,000 after purchasing an additional 706 shares during the period. UMB Bank n.a. raised 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 during the period. Finally, GAMMA Investing LLC raised its position in First Financial Bankshares by 89.9% in 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 institutional investors.

Insider Activity

In other news, Director Michael B. Denny acquired 5,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the transaction, the director owned 108,708 shares of the company's stock, valued at $3,915,662.16. The trade was a 4.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 5,850 shares of company stock valued at $210,839 in the last 90 days. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Trading Up 0.1%

Shares of FFIN stock traded up $0.03 during mid-day trading on Thursday, reaching $35.77. The stock had a trading volume of 357,556 shares, compared to its average volume of 556,906. The stock's 50-day moving average price is $35.96 and its two-hundred day moving average price is $35.55. First Financial Bankshares, Inc. has a 52-week low of $30.58 and a 52-week high of $44.66. The firm has a market capitalization of $5.12 billion, a PE ratio of 20.80 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. The firm had revenue of $156.60 million for the quarter, compared to analysts' expectations of $156.41 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. First Financial Bankshares's payout ratio is presently 44.19%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research report on Friday, July 18th. Hovde Group lifted their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $39.25.

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.