First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 6,719.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,218 shares of the bank's stock after buying an additional 68,203 shares during the period. GAMMA Investing LLC's holdings in First Financial Bankshares were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FFIN. Norges Bank purchased a new stake in First Financial Bankshares during the 4th quarter worth about $47,757,000. Axiom Investors LLC DE purchased a new stake in First Financial Bankshares during the 4th quarter worth about $16,937,000. Raymond James Financial Inc. purchased a new stake in First Financial Bankshares during the 4th quarter worth about $8,341,000. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 225,574 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in 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 buying an additional 197,986 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Up 0.3%

Shares of First Financial Bankshares stock traded up $0.12 on Monday, hitting $35.68. The stock had a trading volume of 643,489 shares, compared to its average volume of 549,847. First Financial Bankshares, Inc. has a 52-week low of $27.69 and a 52-week high of $44.66. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 22.87 and a beta of 0.87. The company's 50 day moving average price is $34.55 and its 200 day moving average price is $36.10.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. Analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, June 16th. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.13%. First Financial Bankshares's dividend payout ratio is currently 46.91%.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of the company'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 transaction, the director now owns 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 6,399 shares of company stock worth $227,646. Company insiders own 4.22% of the company's stock.

Analyst Ratings Changes

FFIN has been the subject of several research reports. Hovde Group reduced their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their target price on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

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.