Nuveen LLC Purchases New Holdings 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 stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 964,966 shares of the bank's stock, valued at approximately $34,662,000. Nuveen LLC owned about 0.67% of First Financial Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares during the first quarter valued at approximately $26,000. Fifth Third Bancorp lifted its position in shares of First Financial Bankshares by 161.5% in the first 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. lifted its position in shares of 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 last quarter. UMB Bank n.a. lifted its position in shares of First Financial Bankshares by 245.6% in the first 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 lifted its position in shares of First Financial Bankshares by 89.9% in the first 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. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FFIN has been the subject of a number of recent analyst reports. Hovde Group raised their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their price objective on 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.com, the company currently has a consensus rating of "Hold" and a consensus price target of $39.25.

First Financial Bankshares Trading Up 0.1%

NASDAQ FFIN traded up $0.03 during midday trading on Thursday, hitting $35.77. The company had a trading volume of 357,556 shares, compared to its average volume of 556,906. The company has a market capitalization of $5.12 billion, a PE ratio of 20.80 and a beta of 0.87. The firm has a 50-day moving average price of $35.96 and a 200-day moving average price of $35.55. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 EPS 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 analysts' expectations of $156.41 million. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

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

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 108,708 shares in the company, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders bought 5,850 shares of company stock worth $210,839. 4.22% of the stock is owned by corporate 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.