Squarepoint Ops LLC Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Squarepoint Ops LLC grew its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 65.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,807 shares of the bank's stock after acquiring an additional 11,836 shares during the period. Squarepoint Ops LLC's holdings in First Financial Bankshares were worth $1,075,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FFIN. Assetmark Inc. acquired a new position in First Financial Bankshares during the fourth quarter worth $33,000. Harvest Fund Management Co. Ltd raised 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 worth $118,000 after buying an additional 3,039 shares during the last quarter. KBC Group NV boosted its position in shares of First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after buying an additional 1,819 shares in the last quarter. US Bancorp DE grew its stake in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after acquiring an additional 370 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in First Financial Bankshares in the 4th quarter valued at about $237,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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 for the company in a research report on Monday, April 21st. Hovde Group cut their price objective on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a research report on Monday, April 21st.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter purchased 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the purchase, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 7,399 shares of company stock valued at $258,266 over the last quarter. Company insiders own 4.22% of the company's stock.

First Financial Bankshares Stock Performance

FFIN stock traded down $0.29 during trading on Wednesday, hitting $35.53. The stock had a trading volume of 366,163 shares, compared to its average volume of 549,433. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 22.78 and a beta of 0.89. The company's 50 day moving average price is $34.08 and its two-hundred day moving average price is $36.48. 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 data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. As a group, sell-side 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 firm 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 is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.14%. First Financial Bankshares's dividend payout ratio (DPR) 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.