Raymond James Financial Inc. Has $10.40 Million Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• Raymond James Financial Inc. increased its stake in First Financial Bankshares by 25.2%, acquiring an additional 58,291 shares, bringing their total ownership to about $10.4 million.
• First Financial Bankshares reported a quarterly EPS of $0.47, exceeding analyst expectations of $0.45, with a net margin of 31.01%.
• The company announced a quarterly dividend of $0.19 per share, which will be paid on October 1, reflecting a 2.0% yield and a payout ratio of 44.19%.

Raymond James Financial Inc. increased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 289,652 shares of the bank's stock after purchasing an additional 58,291 shares during the quarter. Raymond James Financial Inc. owned approximately 0.20% of First Financial Bankshares worth $10,404,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp lifted its holdings in shares of First Financial Bankshares by 161.5% during the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after acquiring an additional 441 shares during the period. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares in the first quarter worth about $26,000. Assetmark Inc. lifted its stake in First Financial Bankshares by 76.5% during the first 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. lifted its stake in First Financial Bankshares by 245.6% during the first 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 boosted its holdings in First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock valued at $69,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Trading Up 0.7%

NASDAQ FFIN traded up $0.25 on Thursday, hitting $36.86. 100,578 shares of the company were exchanged, compared to its average volume of 531,490. The firm has a 50 day moving average of $36.28 and a two-hundred day moving average of $35.52. The company has a market cap of $5.27 billion, a P/E ratio of 21.43 and a beta of 0.89. 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 quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $156.41 million. During the same quarter last year, the company posted $0.37 EPS. Research analysts anticipate 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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, September 15th. First Financial Bankshares's dividend payout ratio (DPR) is presently 44.19%.

Insider Buying and Selling

In other news, Director Michael B. Denny bought 5,000 shares of the stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $36.02 per share, with a total value of $180,100.00. Following the purchase, the director owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.96% of the company's stock.

Analyst Ratings Changes

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

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.