GAMMA Investing LLC Grows Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

GAMMA Investing LLC grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 6,719.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FFIN. Moody National Bank Trust Division boosted its position in First Financial Bankshares by 17.8% during the first quarter. Moody National Bank Trust Division now owns 6,952 shares of the bank's stock valued at $250,000 after purchasing an additional 1,049 shares during the last quarter. Versant Capital Management Inc increased its position in First Financial Bankshares by 10.7% during the 1st quarter. Versant Capital Management Inc now owns 3,861 shares of the bank's stock worth $139,000 after buying an additional 374 shares during the period. Jefferies Financial Group Inc. acquired a new stake in First Financial Bankshares in the 4th quarter worth about $835,000. Mackenzie Financial Corp acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $229,000. Finally, Michels Family Financial LLC bought a new position in shares of First Financial Bankshares in the fourth quarter worth $263,000. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Down 3.0%

NASDAQ:FFIN traded down $1.10 during trading hours on Friday, hitting $35.56. 484,913 shares of the company traded hands, compared to its average volume of 548,390. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66. The company has a market cap of $5.09 billion, a PE ratio of 22.79 and a beta of 0.87. The firm's 50-day simple moving average is $34.39 and its 200-day simple moving average is $36.27.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates 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 net margin of 29.69% and a return on equity of 14.24%. As a group, equities research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $0.19 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.14%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's dividend payout ratio is presently 46.91%.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny acquired 5,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were purchased at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the acquisition, the director now owns 108,708 shares in the company, 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 this link. Insiders have acquired a total of 6,399 shares of company stock valued at $227,646 in the last 90 days. Corporate insiders own 3.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Hovde Group reduced 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. Keefe, Bruyette & Woods reduced their target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

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.