Fox Run Management L.L.C. Acquires Shares of 26,384 First Financial Bankshares, Inc. $FFIN

Key Points

• Fox Run Management L.L.C. recently acquired 26,384 shares of First Financial Bankshares, valued at about $948,000, as disclosed in their 13F filing with the SEC.
• First Financial Bankshares reported earnings per share of $0.47 for the last quarter, exceeding analysts' expectations, with a net margin of 31.01% and revenue of $156.60 million.
• The company announced a quarterly dividend of $0.19, representing a 2.1% dividend yield, scheduled for payment on October 1st to investors of record.

Fox Run Management L.L.C. purchased a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,384 shares of the bank's stock, valued at approximately $948,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after purchasing an additional 441 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in shares of First Financial Bankshares in the 1st quarter valued at $26,000. Assetmark Inc. increased its stake in shares of First Financial Bankshares by 76.5% in the 1st quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock valued at $59,000 after purchasing an additional 706 shares during the last quarter. UMB Bank n.a. increased its stake in shares of First Financial Bankshares by 245.6% in the 1st quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock valued at $68,000 after purchasing an additional 1,353 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of First Financial Bankshares by 89.9% in the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock valued at $69,000 after purchasing an additional 912 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Performance

Shares of FFIN stock traded up $0.1760 on Thursday, hitting $35.9160. The company had a trading volume of 64,903 shares, compared to its average volume of 532,641. The firm has a market cap of $5.14 billion, a P/E ratio of 20.89 and a beta of 0.87. The stock's 50-day moving average is $35.98 and its two-hundred day moving average is $35.56. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced 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 return on equity of 14.69% and a net margin of 31.01%.The company had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. During the same period in the previous year, the business earned $0.37 EPS. Equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

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

Analysts Set New Price Targets

FFIN has been the topic of a number of research reports. Hovde Group boosted their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on 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. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.25.

Insiders Place Their Bets

In other news, Director Michael B. Denny purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were acquired 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 in the company, valued at $3,915,662.16. This represents a 4.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 5,850 shares of company stock worth $210,839. 4.22% of the stock is currently owned by corporate insiders.

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.