Twinbeech Capital LP Raises Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Twinbeech Capital LP boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 94.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,449 shares of the bank's stock after acquiring an additional 13,815 shares during the quarter. Twinbeech Capital LP's holdings in First Financial Bankshares were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FFIN. Assetmark Inc. bought a new stake in First Financial Bankshares during the 4th quarter worth approximately $33,000. R Squared Ltd acquired a new position in shares of First Financial Bankshares during the 4th quarter valued at $88,000. Harvest Fund Management Co. Ltd lifted its position 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 acquiring an additional 3,039 shares during the period. KBC Group NV lifted its position in shares of First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock valued at $195,000 after acquiring an additional 1,819 shares during the period. Finally, US Bancorp DE raised its holdings in First Financial Bankshares by 7.4% during the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank's stock worth $195,000 after buying an additional 370 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Trading Up 1.9%

Shares of First Financial Bankshares stock traded up $0.65 on Tuesday, reaching $34.86. The stock had a trading volume of 75,458 shares, compared to its average volume of 544,705. 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 cap of $4.99 billion, a P/E ratio of 22.33 and a beta of 0.89. The business's 50 day moving average is $34.20 and its two-hundred day moving average is $36.72.

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

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, June 16th. First Financial Bankshares's dividend payout ratio (DPR) is currently 46.91%.

Insiders Place Their Bets

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 completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 7,099 shares of company stock valued at $247,751. 4.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on FFIN. Hovde Group lowered their price objective on shares of 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. Keefe, Bruyette & Woods reduced their price target 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.

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.