Occudo Quantitative Strategies LP Invests $929,000 in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Occudo Quantitative Strategies LP bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,758 shares of the bank's stock, valued at approximately $929,000.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of First Financial Bankshares by 2.3% during the 4th quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock valued at $480,000 after purchasing an additional 295 shares in the last quarter. Arizona State Retirement System increased its holdings in First Financial Bankshares by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock worth $1,271,000 after acquiring an additional 302 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in First Financial Bankshares by 1.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank's stock worth $961,000 after acquiring an additional 312 shares in the last quarter. US Bancorp DE increased its holdings in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock worth $195,000 after acquiring an additional 370 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in First Financial Bankshares by 2.3% in the 4th quarter. Pacer Advisors Inc. now owns 19,170 shares of the bank's stock worth $691,000 after acquiring an additional 432 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Johnny Trotter bought 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the transaction, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have bought 7,099 shares of company stock valued at $247,751. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Stock Down 0.3%

Shares of First Financial Bankshares stock traded down $0.10 during trading hours on Friday, reaching $35.86. 437,639 shares of the company's stock were exchanged, compared to its average volume of 546,174. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The company has a market capitalization of $5.13 billion, a P/E ratio of 22.99 and a beta of 0.89. The business has a fifty day moving average of $34.28 and a two-hundred day moving average of $36.89.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. As a group, research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.19 per share. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.12%. First Financial Bankshares's payout ratio is presently 46.91%.

Wall Street Analyst Weigh In

FFIN has been the subject of several recent analyst reports. Hovde Group cut their price target on shares of 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. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

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.