Deutsche Bank AG Raises Stock Position 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 increased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,271 shares of the bank's stock after buying an additional 65,104 shares during the quarter. Deutsche Bank AG owned about 0.13% of First Financial Bankshares worth $6,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $8,341,000. Cubist Systematic Strategies LLC grew its stake in shares of First Financial Bankshares by 1,719.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank's stock worth $7,552,000 after purchasing an additional 197,986 shares during the period. Federated Hermes Inc. grew its stake in shares of First Financial Bankshares by 1,180.5% during the 1st quarter. Federated Hermes Inc. now owns 170,479 shares of the bank's stock worth $6,124,000 after purchasing an additional 157,166 shares during the period. Northern Trust Corp grew its stake in shares of First Financial Bankshares by 8.1% during the 4th quarter. Northern Trust Corp now owns 1,776,607 shares of the bank's stock worth $64,047,000 after purchasing an additional 133,274 shares during the period. Finally, Tudor Investment Corp ET AL grew its stake in shares of First Financial Bankshares by 936.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 133,485 shares of the bank's stock worth $4,812,000 after purchasing an additional 120,607 shares during the period. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN traded up $0.25 during midday trading on Monday, reaching $35.63. 710,611 shares of the company's stock traded hands, compared to its average volume of 590,566. First Financial Bankshares, Inc. has a 1 year low of $30.58 and a 1 year high of $44.66. The company has a market cap of $5.10 billion, a P/E ratio of 20.72 and a beta of 0.87. The company has a fifty day simple moving average of $36.03 and a two-hundred day simple moving average of $35.56.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results 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 return on equity of 14.69% and a net margin of 31.01%. The firm had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. During the same quarter last year, the firm posted $0.37 EPS. As a group, research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal 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 issued a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.1%. First Financial Bankshares's dividend payout ratio (DPR) is presently 44.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Hovde Group increased their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday, July 21st.

Insiders Place Their Bets

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 bought at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the acquisition, the director owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 5,850 shares of company stock valued at $210,839. Company insiders own 3.96% of the company's stock.

First Financial Bankshares Company 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.