Raymond James Financial Inc. Makes New $8.34 Million Investment in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Raymond James Financial Inc. bought a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 231,361 shares of the bank's stock, valued at approximately $8,341,000. Raymond James Financial Inc. owned about 0.16% of First Financial Bankshares at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of First Financial Bankshares in the fourth quarter worth about $33,000. R Squared Ltd bought a new stake in First Financial Bankshares during the 4th quarter valued at approximately $88,000. Harvest Fund Management Co. Ltd boosted its position in First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after acquiring an additional 3,039 shares in the last quarter. KBC Group NV boosted its position in First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock valued at $195,000 after acquiring an additional 1,819 shares in the last quarter. Finally, US Bancorp DE boosted its position in First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after acquiring an additional 370 shares in the last quarter. 69.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Hovde Group cut their price objective on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders purchased 7,041 shares of company stock worth $247,992. 4.22% of the stock is owned by insiders.

First Financial Bankshares Trading Up 0.4 %

NASDAQ:FFIN traded up $0.12 during trading hours on Monday, reaching $33.49. 340,092 shares of the company traded hands, compared to its average volume of 543,645. The business's 50-day moving average price is $34.81 and its two-hundred day moving average price is $37.13. The stock has a market capitalization of $4.79 billion, a P/E ratio of 21.47 and a beta of 0.82. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $149.02 million during 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%. As a group, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, March 14th. First Financial Bankshares's payout ratio is 44.44%.

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.