UBS Group AG Boosts Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• UBS Group AG significantly increased its stake in First Financial Bankshares by 72.7% in the fourth quarter, ending with 710,699 shares valued at about $21.2 million. Institutional ownership remains high, with about 69.78% of the stock held by institutional investors.
• First Financial Bankshares reported stronger-than-expected quarterly results, earning $0.50 per share versus the $0.47 consensus estimate, with revenue also slightly ahead of forecasts. Analysts now expect the company to earn 2.04 EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.22 per share from $0.19, putting the annualized dividend at $0.88 and the yield at 2.8%. At the same time, several analysts maintain a cautious stance, with a consensus rating of “Hold” and an average price target of $37.33.

UBS Group AG increased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 72.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 710,699 shares of the bank's stock after acquiring an additional 299,079 shares during the period. UBS Group AG owned approximately 0.50% of First Financial Bankshares worth $21,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FFIN. Royal Bank of Canada raised its position in shares of First Financial Bankshares by 10.8% in the first quarter. Royal Bank of Canada now owns 64,287 shares of the bank's stock worth $2,309,000 after buying an additional 6,290 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of First Financial Bankshares by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock valued at $4,228,000 after acquiring an additional 40,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Financial Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank's stock valued at $2,783,000 after acquiring an additional 3,382 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of First Financial Bankshares by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank's stock worth $14,243,000 after purchasing an additional 59,416 shares in the last quarter. 69.78% of the stock is owned by institutional investors.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Geoff Haney purchased 1,500 shares of the stock in a transaction 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 of the company's stock, valued at approximately $981,790.28. This trade represents a 4.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michelle S. Hickox purchased 1,000 shares of the stock in a transaction on Monday, March 9th. The stock was acquired 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 directly owned 11,861 shares of the company's stock, valued at $349,899.50. The trade was a 9.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 21,164 shares of company stock worth $664,723. Corporate insiders own 3.80% of the company's stock.

First Financial Bankshares Trading Down 2.4%

Shares of First Financial Bankshares stock opened at $31.48 on Tuesday. The firm has a market capitalization of $4.51 billion, a PE ratio of 17.11 and a beta of 0.83. First Financial Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $38.74. The business's 50-day moving average price is $30.74 and its 200-day moving average price is $31.39.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $166.89 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.43 EPS. As a group, analysts predict that First Financial Bankshares, Inc. will post 2.04 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 Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, June 12th. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.19. First Financial Bankshares's dividend payout ratio (DPR) is presently 41.30%.

Analysts Set New Price Targets

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

First Financial Bankshares Profile

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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