Hsbc Holdings PLC Takes Position in First Financial Bankshares, Inc. $FFIN

Key Points

• HSBC Holdings PLC acquired a new stake in First Financial Bankshares, purchasing 28,506 shares valued at approximately $1,022,000 in the first quarter.
• Other institutional investors, such as Squarepoint Ops LLC and UBS AM, have also significantly increased their holdings in First Financial Bankshares, bringing institutional ownership to 69.78%.
• The company's quarterly earnings outperformed expectations, with an EPS of $0.47, exceeding the consensus estimate of $0.45.

Hsbc Holdings PLC acquired a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,506 shares of the bank's stock, valued at approximately $1,022,000.

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

First Financial Bankshares Stock Down 0.9%

NASDAQ FFIN traded down $0.34 on Wednesday, hitting $36.42. The stock had a trading volume of 139,841 shares, compared to its average volume of 532,784. The company's 50-day moving average is $36.26 and its two-hundred day moving average is $35.51. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 21.16 and a beta of 0.89. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to analysts' expectations 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 period last year, the firm posted $0.37 earnings per share. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. First Financial Bankshares's dividend payout ratio (DPR) is 44.19%.

Analyst Ratings Changes

Several research firms have commented on FFIN. Keefe, Bruyette & Woods upped their target price on shares of 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. Hovde Group upped their target price on shares of 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. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $39.25.

Insider Activity

In related news, Director Michael B. Denny acquired 5,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was acquired at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the acquisition, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.96% of the stock is owned by company insiders.

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.