Vident Advisory LLC Acquires 13,804 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Vident Advisory LLC increased its holdings in First Financial Bankshares by 161.3%, bringing its total to 22,362 shares worth $803,000.
• Several other institutional investors have also raised their stakes, with Ameriprise Financial Inc. increasing its position by 125.7% to 1,085,517 shares valued at approximately $39 million.
• First Financial Bankshares recently declared a quarterly dividend of $0.19 per share, with an annualized yield of 2.0% and a payout ratio of 44.19%.

Vident Advisory LLC grew its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 161.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,362 shares of the bank's stock after purchasing an additional 13,804 shares during the quarter. Vident Advisory LLC's holdings in First Financial Bankshares were worth $803,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC grew its holdings in First Financial Bankshares by 65.9% in the 4th quarter. Squarepoint Ops LLC now owns 29,807 shares of the bank's stock valued at $1,075,000 after buying an additional 11,836 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of First Financial Bankshares by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,097 shares of the bank's stock worth $12,152,000 after buying an additional 35,881 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $835,000. GAMMA Investing LLC grew its stake in shares of First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after acquiring an additional 912 shares during the last quarter. Finally, GTS Securities LLC acquired a new stake in shares of First Financial Bankshares in the fourth quarter worth $278,000. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded down $0.03 during trading on Wednesday, reaching $36.05. 462,522 shares of the company traded hands, compared to its average volume of 511,200. First Financial Bankshares, Inc. has a 1-year low of $30.58 and a 1-year high of $44.66. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 20.96 and a beta of 0.89. The stock's 50 day moving average price is $36.27 and its two-hundred day moving average price is $35.50.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The business had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. During the same quarter in the previous year, the firm earned $0.37 EPS. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. First Financial Bankshares's dividend payout ratio is presently 44.19%.

Wall Street Analyst Weigh In

FFIN has been the topic of several research reports. Cantor Fitzgerald began coverage on First Financial Bankshares in a research note on Wednesday. They set a "neutral" rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods boosted their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Finally, Hovde Group raised their target price on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research report on Monday, July 21st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $39.20.

Insider Activity

In other news, Director Michael B. Denny purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.22% of the stock is owned by company insiders.

First Financial Bankshares Company 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.