JPMorgan Chase & Co. Has $15.90 Million Position in First Financial Bankshares, Inc. $FFIN

Key Points

• JPMorgan Chase & Co. increased its stake in First Financial Bankshares by 40.3% in Q3 to 472,557 shares, a position worth about $15.90 million (roughly 0.33% of the company).
• Insiders have been buying: directors Murray Hamilton Edwards and Sally Pope Davis made recent purchases and insiders acquired 21,629 shares in the last 90 days, leaving insiders owning about 3.8% of the stock.
• First Financial reported Q results with EPS of $0.51 beating the $0.48 estimate while revenue was $164.72M (slightly below consensus but up 13.1% YoY); the company pays a $0.19 quarterly dividend (2.6% yield) and has a market cap of $4.23 billion with a P/E of 16.68.

JPMorgan Chase & Co. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 40.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 472,557 shares of the bank's stock after acquiring an additional 135,804 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of First Financial Bankshares worth $15,902,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Tudor Investment Corp ET AL bought a new position in shares of First Financial Bankshares in the 3rd quarter worth $3,024,000. CIBC Private Wealth Group LLC bought a new stake in First Financial Bankshares in the third quarter valued at about $50,000. CIBC Bancorp USA Inc. bought a new stake in First Financial Bankshares in the third quarter valued at about $483,000. Advisory Services Network LLC acquired a new position in First Financial Bankshares in the third quarter valued at about $65,000. Finally, Verition Fund Management LLC lifted its stake in First Financial Bankshares by 1,449.4% in the third quarter. Verition Fund Management LLC now owns 125,407 shares of the bank's stock valued at $4,220,000 after buying an additional 117,313 shares during the period. Institutional investors and hedge funds own 69.78% of the company's stock.

Insiders Place Their Bets

In other news, Director Murray Hamilton Edwards bought 1,000 shares of the stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $29.32 per share, for a total transaction of $29,320.00. Following the acquisition, the director owned 43,634 shares in the company, valued at approximately $1,279,348.88. This trade represents a 2.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the company's stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of $29.52 per share, for a total transaction of $53,136.00. Following the purchase, the director directly owned 10,371 shares in the company, valued at approximately $306,151.92. This trade represents a 21.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 21,629 shares of company stock worth $681,060 in the last ninety days. 3.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $38.00.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $29.53 on Friday. The business has a 50 day simple moving average of $31.73 and a 200 day simple moving average of $31.98. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $38.74. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 16.68 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $164.72 million for the quarter, compared to the consensus estimate of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS. On average, analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, March 13th. First Financial Bankshares's dividend payout ratio (DPR) is presently 42.94%.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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