Royce & Associates LP Has $9.13 Million Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• Royce & Associates LP nearly doubled its stake in First Financial Bankshares in Q4, buying 147,974 additional shares to hold 305,535 shares worth about $9.13 million.
• The company reported better-than-expected quarterly results, with EPS of $0.50 versus the $0.47 consensus, while revenue also slightly topped estimates at $166.89 million.
• First Financial Bankshares raised its quarterly dividend to $0.22 per share from $0.19, putting the annualized yield at about 2.7%.

Royce & Associates LP lifted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 93.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,535 shares of the bank's stock after buying an additional 147,974 shares during the period. Royce & Associates LP owned about 0.21% of First Financial Bankshares worth $9,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank's stock worth $642,573,000 after buying an additional 21,511,608 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of First Financial Bankshares by 31.8% in the 3rd quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank's stock worth $43,434,000 after buying an additional 311,628 shares in the last quarter. Invesco Ltd. raised its holdings in shares of First Financial Bankshares by 3.9% in the 3rd quarter. Invesco Ltd. now owns 1,144,070 shares of the bank's stock worth $38,498,000 after buying an additional 43,042 shares in the last quarter. UBS Group AG raised its holdings in shares of First Financial Bankshares by 72.7% in the 4th quarter. UBS Group AG now owns 710,699 shares of the bank's stock worth $21,229,000 after buying an additional 299,079 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of First Financial Bankshares by 314.0% in the 2nd quarter. AQR Capital Management LLC now owns 490,284 shares of the bank's stock worth $17,640,000 after buying an additional 371,847 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Geoff Haney acquired 1,500 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $29.18 per share, with a total value of $43,770.00. Following the completion of the purchase, the director directly owned 33,646 shares in the company, valued at approximately $981,790.28. This trade represents a 4.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michelle S. Hickox acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average cost of $29.50 per share, with a total value of $29,500.00. Following the completion of the purchase, the chief financial officer owned 11,861 shares of the company's stock, valued at $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 10,964 shares of company stock valued at $326,287 over the last quarter. 3.80% of the stock is owned by corporate insiders.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $32.70 on Friday. The stock has a fifty day moving average of $31.22 and a 200-day moving average of $31.47. The stock has a market capitalization of $4.69 billion, a P/E ratio of 17.77 and a beta of 0.83. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $38.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $166.89 million during the quarter, compared to analysts' expectations of $166.78 million. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.During the same period last year, the firm earned $0.43 EPS. Equities research analysts forecast that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, June 12th. First Financial Bankshares's payout ratio is presently 41.30%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FFIN. Keefe, Bruyette & Woods dropped their target price on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Thursday, April 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, First Financial Bankshares has an average rating of "Hold" and an average price target of $37.33.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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