ProShare Advisors LLC Has $1.54 Million Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

ProShare Advisors LLC raised its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 41.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,667 shares of the bank's stock after acquiring an additional 12,472 shares during the period. ProShare Advisors LLC's holdings in First Financial Bankshares were worth $1,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FFIN. Strategic Financial Concepts LLC grew its position 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 worth $101,222,000 after acquiring an additional 2,730,017 shares in the last quarter. Norges Bank acquired a new position in shares of First Financial Bankshares during the fourth quarter valued at $47,757,000. Axiom Investors LLC DE bought a new position in First Financial Bankshares in the 4th quarter worth about $16,937,000. Raymond James Financial Inc. bought a new position in First Financial Bankshares in the 4th quarter worth approximately $8,341,000. Finally, JPMorgan Chase & Co. grew its stake in shares of First Financial Bankshares by 48.9% in the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank's stock worth $24,777,000 after purchasing an additional 225,574 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Trading Up 1.8%

Shares of FFIN traded up $0.61 during trading hours on Tuesday, hitting $34.82. 61,812 shares of the stock traded hands, compared to its average volume of 544,650. The business has a fifty day moving average of $34.20 and a 200-day moving average of $36.72. The firm has a market capitalization of $4.98 billion, a PE ratio of 22.30 and a beta of 0.89. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $149.48 million. As a group, equities research analysts expect 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 paid a dividend of $0.19 per share. 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. This represents a $0.76 annualized dividend and a dividend yield of 2.18%. First Financial Bankshares's payout ratio is currently 46.91%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter bought 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the transaction, the director now owns 949,371 shares in the company, valued at $33,341,909.52. The trade was a 0.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 7,099 shares of company stock worth $247,751 over the last 90 days. Company insiders own 4.22% of the company's stock.

Analyst Upgrades and Downgrades

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

First Financial Bankshares 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.