Nuveen LLC Takes $34.66 Million Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Nuveen LLC has acquired approximately $34.66 million worth of shares in First Financial Bankshares, Inc. (NASDAQ: FFIN), purchasing 964,966 shares during the first quarter, now owning about 0.67% of the company.
• First Financial Bankshares reported earnings per share of $0.47 for the last quarter, surpassing analyst expectations of $0.45, alongside revenues of $156.60 million compared to estimates of $156.41 million.
• The bank has announced a quarterly dividend of $0.19 per share, with a dividend yield of 2.1%, set to be paid on October 1st to stockholders of record.

Nuveen LLC purchased a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 964,966 shares of the bank's stock, valued at approximately $34,662,000. Nuveen LLC owned approximately 0.67% of First Financial Bankshares as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its position in First Financial Bankshares by 161.5% during the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after buying an additional 441 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of First Financial Bankshares during the 1st quarter worth about $26,000. Assetmark Inc. raised its holdings in First Financial Bankshares by 76.5% in the first 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 period. UMB Bank n.a. grew its position in shares of First Financial Bankshares by 245.6% during the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after buying an additional 1,353 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after purchasing an additional 912 shares during the period. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny bought 5,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were bought at an average price 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 $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 5,850 shares of company stock valued at $210,839 in the last 90 days. 3.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FFIN. Keefe, Bruyette & Woods boosted 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 raised their target price on 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.

First Financial Bankshares Trading Up 0.7%

Shares of NASDAQ:FFIN traded up $0.25 during trading on Monday, hitting $35.63. 710,611 shares of the company were exchanged, compared to its average volume of 590,566. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 20.72 and a beta of 0.87. First Financial Bankshares, Inc. has a fifty-two week low of $30.58 and a fifty-two week high of $44.66. The firm has a fifty day moving average price of $36.03 and a two-hundred day moving average price of $35.56.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. During the same period in the previous year, the company posted $0.37 EPS. As a group, research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared 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 is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.1%. First Financial Bankshares's dividend payout ratio is presently 44.19%.

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.