Gibraltar Capital Management Inc. Takes $1.74 Million Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Gibraltar Capital Management Inc. purchased a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 48,400 shares of the bank's stock, valued at approximately $1,739,000.

A number of other institutional investors have also recently made changes to their positions in FFIN. Investment Research & Advisory Group Inc. purchased a new position in shares of First Financial Bankshares during the 1st quarter valued at $26,000. Fifth Third Bancorp lifted its position 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 valued at $26,000 after buying an additional 441 shares during the last quarter. Assetmark Inc. purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at $33,000. UMB Bank n.a. lifted its holdings in First Financial Bankshares by 245.6% during the 1st 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in First Financial Bankshares by 89.9% during the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after purchasing an additional 912 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of the stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director directly owned 108,708 shares in the company, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 6,399 shares of company stock valued at $227,646. Company insiders own 3.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FFIN shares. Hovde Group dropped their price objective 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 dropped their price objective on 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 Stock Up 0.1%

FFIN traded up $0.04 during trading on Tuesday, reaching $37.36. 555,780 shares of the company were exchanged, compared to its average volume of 535,232. The company's 50-day moving average is $35.59 and its two-hundred day moving average is $35.72. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 23.06 and a beta of 0.87. First Financial Bankshares, Inc. has a 12-month low of $28.35 and a 12-month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a return on equity of 14.31% and a net margin of 30.01%. The firm had revenue of $149.02 million for the quarter, compared to analysts' expectations of $149.48 million. Equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.03%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.91%.

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.