Northern Trust Corp Purchases 133,274 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Northern Trust Corp boosted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,776,607 shares of the bank's stock after acquiring an additional 133,274 shares during the quarter. Northern Trust Corp owned 1.24% of First Financial Bankshares worth $64,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Pointe Advisors LLC boosted its position in First Financial Bankshares by 2.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 47,077 shares of the bank's stock worth $1,697,000 after purchasing an additional 1,322 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of First Financial Bankshares by 936.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 133,485 shares of the bank's stock worth $4,812,000 after purchasing an additional 120,607 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of First Financial Bankshares by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 93,162 shares of the bank's stock worth $3,359,000 after buying an additional 8,989 shares during the last quarter. Dark Forest Capital Management LP bought a new position in First Financial Bankshares during the fourth quarter valued at about $821,000. Finally, Tower Research Capital LLC TRC increased its holdings in First Financial Bankshares by 164.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,944 shares of the bank's stock worth $539,000 after buying an additional 9,290 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 7,099 shares of company stock valued at $247,751. Corporate insiders own 4.22% of the company's stock.

First Financial Bankshares Price Performance

Shares of NASDAQ:FFIN traded up $1.45 during trading on Monday, hitting $36.12. 79,402 shares of the company were exchanged, compared to its average volume of 544,544. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The stock has a 50 day moving average of $34.28 and a 200 day moving average of $36.91. The company has a market cap of $5.17 billion, a PE ratio of 23.07 and a beta of 0.89.

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

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a $0.19 dividend. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, June 16th. First Financial Bankshares's dividend payout ratio (DPR) is 46.91%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price 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. Hovde Group reduced their price objective on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

About First Financial Bankshares

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.