Waterloo Capital L.P. Purchases 62,510 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Waterloo Capital sharply increased its stake in First Financial Bankshares, buying 62,510 shares in the fourth quarter and lifting its total holdings to 68,899 shares worth about $2.06 million.
• Institutional interest is broad, with several other funds also boosting positions; overall, institutional investors now own about 69.78% of the stock.
• First Financial Bankshares reported strong quarterly results, beating earnings estimates, and it also raised its quarterly dividend to $0.22 per share from $0.19.

Waterloo Capital L.P. boosted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 978.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 68,899 shares of the bank's stock after acquiring an additional 62,510 shares during the period. Waterloo Capital L.P.'s holdings in First Financial Bankshares were worth $2,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FFIN. Northwestern Mutual Wealth Management Co. raised its stake in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank's stock valued at $642,573,000 after acquiring an additional 21,511,608 shares during the period. Norges Bank purchased a new position in First Financial Bankshares during the 4th quarter valued at about $51,227,000. Invesco Ltd. grew its holdings in First Financial Bankshares by 170.9% during the 2nd quarter. Invesco Ltd. now owns 1,101,028 shares of the bank's stock valued at $39,615,000 after buying an additional 694,534 shares in the last quarter. SG Americas Securities LLC grew its holdings in First Financial Bankshares by 3,204.2% during the 4th quarter. SG Americas Securities LLC now owns 417,192 shares of the bank's stock valued at $12,462,000 after buying an additional 404,566 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in First Financial Bankshares by 314.0% during the 2nd quarter. AQR Capital Management LLC now owns 490,284 shares of the bank's stock valued at $17,640,000 after buying an additional 371,847 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, CFO Michelle S. Hickox acquired 1,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $29.50 per share, with a total value of $29,500.00. Following the completion of the acquisition, the chief financial officer owned 11,861 shares of the company's stock, valued at $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Johnny Trotter acquired 4,000 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $30.02 per share, with a total value of $120,080.00. Following the acquisition, the director directly owned 955,444 shares of the company's stock, valued at $28,682,428.88. This represents a 0.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 10,964 shares of company stock valued at $326,287 in the last ninety days. Insiders own 3.80% of the company's stock.

First Financial Bankshares Price Performance

FFIN stock opened at $32.68 on Monday. The firm has a market capitalization of $4.68 billion, a PE ratio of 17.76 and a beta of 0.83. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $38.74. The stock has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $31.48.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.The business had revenue of $166.89 million during the quarter, compared to analyst estimates of $166.78 million. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 2.04 EPS 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. First Financial Bankshares's payout ratio is presently 41.30%.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their target price on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Thursday, April 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, First Financial Bankshares presently has a consensus rating of "Hold" and an average 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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