15,277 Shares in First Financial Bankshares, Inc. $FFIN Purchased by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp acquired a new stake in First Financial Bankshares by purchasing 15,277 shares valued at approximately $549,000 during the first quarter.
• The latest earnings report revealed that First Financial Bankshares reported $0.47 earnings per share for the quarter, surpassing analysts' expectations of $0.45.
• The bank announced a quarterly dividend of $0.19 to be paid on October 1st, which reflects a 2.1% dividend yield on an annualized basis.

Hancock Whitney Corp acquired a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,277 shares of the bank's stock, valued at approximately $549,000.

A number of other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in First Financial Bankshares by 51.3% in the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock worth $4,228,000 after purchasing an additional 40,173 shares in the last quarter. Royal Bank of Canada boosted its holdings in First Financial Bankshares by 10.8% during the first quarter. Royal Bank of Canada now owns 64,287 shares of the bank's stock valued at $2,309,000 after acquiring an additional 6,290 shares during the period. Quarry LP boosted its holdings in First Financial Bankshares by 336.9% during the first quarter. Quarry LP now owns 1,573 shares of the bank's stock valued at $57,000 after acquiring an additional 1,213 shares during the period. Panagora Asset Management Inc. boosted its holdings in First Financial Bankshares by 175.7% during the first quarter. Panagora Asset Management Inc. now owns 270,589 shares of the bank's stock valued at $9,720,000 after acquiring an additional 172,453 shares during the period. Finally, Vident Advisory LLC boosted its holdings in First Financial Bankshares by 161.3% during the first quarter. Vident Advisory LLC now owns 22,362 shares of the bank's stock valued at $803,000 after acquiring an additional 13,804 shares during the period. 69.78% of the stock is currently owned by institutional investors.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the completion of the transaction, the director directly owned 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.96% of the stock is owned by company insiders.

First Financial Bankshares Stock Performance

Shares of FFIN traded down $0.66 during trading hours on Tuesday, reaching $36.08. 356,724 shares of the company traded hands, compared to its average volume of 513,236. The stock's fifty day moving average is $36.30 and its 200 day moving average is $35.49. The stock has a market cap of $5.16 billion, a P/E ratio of 20.98 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 announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $156.41 million. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend 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%.

Analyst Ratings Changes

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

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.