Kayne Anderson Rudnick Investment Management LLC Has $88.57 Million Stock Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in First Financial Bankshares by 36% during the first quarter, acquiring an additional 652,575 shares to bring its total ownership to 2,465,774 shares, valued at approximately $88.57 million.
• The First Financial Bankshares recently declared a quarterly dividend of $0.19 per share, yielding a 2.0% annualized dividend based on a payout ratio of 44.19%.
• The bank's recent earnings report showed an EPS of $0.47 for the last quarter, exceeding analysts' expectations, and predicting a 1.78 EPS for the current year.

Kayne Anderson Rudnick Investment Management LLC raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 36.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,465,774 shares of the bank's stock after acquiring an additional 652,575 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 1.72% of First Financial Bankshares worth $88,571,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in First Financial Bankshares by 5.8% during the fourth quarter. NewEdge Advisors LLC now owns 10,097 shares of the bank's stock worth $364,000 after purchasing an additional 551 shares during the period. First Trust Advisors LP lifted its position in shares of First Financial Bankshares by 14.6% in the fourth quarter. First Trust Advisors LP now owns 256,253 shares of the bank's stock valued at $9,238,000 after buying an additional 32,690 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Financial Bankshares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock worth $92,733,000 after acquiring an additional 42,280 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of First Financial Bankshares by 164.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,944 shares of the bank's stock worth $539,000 after acquiring an additional 9,290 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of First Financial Bankshares by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 93,162 shares of the bank's stock worth $3,359,000 after acquiring an additional 8,989 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Price Performance

NASDAQ FFIN traded down $0.20 on Friday, reaching $37.17. The stock had a trading volume of 448,813 shares, compared to its average volume of 578,618. The company has a market cap of $5.32 billion, a P/E ratio of 21.61 and a beta of 0.87. The firm has a fifty day moving average of $36.22 and a two-hundred day moving average of $35.52. 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 posted its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The company had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. During the same quarter last year, the firm earned $0.37 earnings per share. Research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. First Financial Bankshares's payout ratio is currently 44.19%.

Analyst Ratings Changes

FFIN has been the subject of several research reports. Hovde Group raised their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.25.

Insider Activity

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of the stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the acquisition, the director owned 108,708 shares of the company's stock, valued at $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Company 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.