King Luther Capital Management Corp Raises Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• King Luther Capital Management sharply increased its stake in First Financial Bankshares by 741.4% in the fourth quarter, ending with 126,216 shares valued at about $3.77 million.
• First Financial Bankshares reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.47 estimate and revenue slightly above forecasts at $166.89 million.
• The company also raised its quarterly dividend to $0.22 per share from $0.19, and analysts currently rate the stock a consensus Hold with a target price of $37.33.

King Luther Capital Management Corp increased its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 741.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,216 shares of the bank's stock after acquiring an additional 111,216 shares during the quarter. King Luther Capital Management Corp owned about 0.09% of First Financial Bankshares worth $3,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FFIN. Olistico Wealth LLC acquired a new position in First Financial Bankshares during the fourth quarter worth about $30,000. Quarry LP boosted its position in First Financial Bankshares by 66.3% during the third quarter. Quarry LP now owns 1,026 shares of the bank's stock worth $35,000 after acquiring an additional 409 shares during the last quarter. Danske Bank A S boosted its position in First Financial Bankshares by 200.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after acquiring an additional 800 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in First Financial Bankshares during the third quarter worth about $50,000. Finally, State of Wyoming acquired a new position in First Financial Bankshares during the second quarter worth about $54,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on FFIN. Weiss Ratings reiterated a "hold (c)" rating on shares of First Financial Bankshares in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, First Financial Bankshares presently has an average rating of "Hold" and a consensus target price of $37.33.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $32.70 on Friday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 17.77 and a beta of 0.83. First Financial Bankshares, Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $38.74. The stock has a 50 day moving average of $31.22 and a 200 day moving average of $31.47.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $166.89 million during the quarter, compared to analyst estimates of $166.78 million. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.During the same period in the prior year, the business posted $0.43 earnings per share. Analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. First Financial Bankshares's dividend payout ratio is currently 41.30%.

Insider Buying and Selling

In related news, Director Murray Hamilton Edwards purchased 1,000 shares of First Financial Bankshares stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $29.32 per share, with a total value of $29,320.00. Following the purchase, the director owned 43,634 shares of the company's stock, valued at approximately $1,279,348.88. The trade was a 2.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Geoff Haney purchased 1,500 shares of First Financial Bankshares stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $29.18 per share, for a total transaction of $43,770.00. Following the completion of the purchase, the director directly owned 33,646 shares in the company, valued at approximately $981,790.28. This trade represents a 4.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,964 shares of company stock valued at $326,287 over the last three months. Company insiders own 3.80% of the company's stock.

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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