Vident Advisory LLC Boosts Stake in 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 increased its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 161.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FFIN. Nuveen LLC acquired a new position in First Financial Bankshares during the first quarter worth about $34,662,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of First Financial Bankshares by 36.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank's stock worth $88,571,000 after acquiring an additional 652,575 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of First Financial Bankshares by 125.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank's stock worth $38,993,000 after acquiring an additional 604,648 shares during the period. Jane Street Group LLC increased its stake in First Financial Bankshares by 484.7% in the 1st quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock valued at $9,038,000 after purchasing an additional 208,573 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in First Financial Bankshares by 1,719.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank's stock valued at $7,552,000 after purchasing an additional 197,986 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Trading Down 0.2%

Shares of First Financial Bankshares stock traded down $0.07 during mid-day trading on Wednesday, hitting $36.02. 74,145 shares of the stock were exchanged, compared to its average volume of 528,316. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 20.94 and a beta of 0.89. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66. The company has a 50-day simple moving average of $36.30 and a 200 day simple moving average of $35.49.

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

First Financial Bankshares Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the transaction, the director owned 108,708 shares of the company's stock, valued at $3,915,662.16. This represents a 4.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.96% of the company's stock.

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.