Diversified Trust Co Purchases 14,999 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Diversified Trust Co increased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 51.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,138 shares of the bank's stock after buying an additional 14,999 shares during the quarter. Diversified Trust Co's holdings in First Financial Bankshares were worth $1,585,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $47,757,000. Axiom Investors LLC DE acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $16,937,000. Raymond James Financial Inc. acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $8,341,000. JPMorgan Chase & Co. increased its position in shares of First Financial Bankshares by 48.9% during the 4th quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank's stock worth $24,777,000 after purchasing an additional 225,574 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position 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 last quarter. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Trading Down 0.3%

FFIN stock opened at $36.14 on Friday. The firm has a market capitalization of $5.17 billion, a PE ratio of 22.31 and a beta of 0.87. First Financial Bankshares, Inc. has a 1-year low of $28.35 and a 1-year high of $44.66. The business's 50 day simple moving average is $35.11 and its 200 day simple moving average is $35.83.

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 for the quarter, hitting analysts' consensus estimates of $0.43. First Financial Bankshares had a return on equity of 14.31% and a net margin of 30.01%. The business had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. As a group, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.10%. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, June 16th. First Financial Bankshares's dividend payout ratio is currently 46.91%.

Insider Buying and Selling at First Financial Bankshares

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 cost of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director now directly owns 108,708 shares in the company, valued at $3,915,662.16. This represents a 4.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought a total of 6,399 shares of company stock valued at $227,646 in the last ninety days. 4.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FFIN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered their price target on 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. Hovde Group decreased their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

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.

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