Point72 Asset Management L.P. Purchases New Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Point72 Asset Management L.P. acquired a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,400 shares of the bank's stock, valued at approximately $447,000.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of First Financial Bankshares by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank's stock valued at $508,146,000 after acquiring an additional 110,923 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock valued at $101,222,000 after acquiring an additional 2,730,017 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in First Financial Bankshares by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock valued at $92,733,000 after buying an additional 42,280 shares during the last quarter. Northern Trust Corp grew its holdings in First Financial Bankshares by 8.1% in the 4th quarter. Northern Trust Corp now owns 1,776,607 shares of the bank's stock valued at $64,047,000 after buying an additional 133,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in First Financial Bankshares by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock valued at $61,494,000 after buying an additional 4,608 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN traded up $0.17 during trading on Thursday, hitting $35.08. 97,576 shares of the stock were exchanged, compared to its average volume of 545,385. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 22.46 and a beta of 0.89. The company's fifty day simple moving average is $34.18 and its 200-day simple moving average is $36.70.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The company had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. On average, research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.91%.

Analyst Upgrades and Downgrades

FFIN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Hovde Group lowered their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

Insider Transactions at First Financial Bankshares

In other news, Director Johnny Trotter acquired 6,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have bought 7,099 shares of company stock valued at $247,751. 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.