Rhumbline Advisers Grows Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Rhumbline Advisers raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,799 shares of the bank's stock after acquiring an additional 6,971 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of First Financial Bankshares worth $15,187,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new position in shares of First Financial Bankshares in the fourth quarter valued at about $33,000. Harvest Fund Management Co. Ltd boosted its stake in shares of First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after purchasing an additional 3,039 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of First Financial Bankshares by 10.7% during the 1st quarter. Versant Capital Management Inc now owns 3,861 shares of the bank's stock valued at $139,000 after purchasing an additional 374 shares in the last quarter. US Bancorp DE boosted its stake in shares of First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after purchasing an additional 370 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of First Financial Bankshares during the 4th quarter valued at about $229,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FFIN. Keefe, Bruyette & Woods cut their target price 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 cut their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the transaction, the director now owns 949,371 shares of the company's stock, 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 can be accessed through this link. In the last three months, insiders have acquired 7,399 shares of company stock valued at $258,266. 4.22% of the stock is owned by corporate insiders.

First Financial Bankshares Price Performance

Shares of NASDAQ:FFIN opened at $36.56 on Friday. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66. The business has a fifty day moving average price of $34.09 and a 200-day moving average price of $36.38. The company has a market capitalization of $5.23 billion, a PE ratio of 23.44 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $149.02 million during the quarter, compared to analysts' expectations of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.08%. First Financial Bankshares's dividend payout ratio is 46.91%.

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.

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