Shell Asset Management Co. Raises Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Shell Asset Management Co. increased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFINGet Rating) by 69.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,758 shares of the bank’s stock after purchasing an additional 3,579 shares during the quarter. Shell Asset Management Co.’s holdings in First Financial Bankshares were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FFIN. Eagle Asset Management Inc. increased its position in shares of First Financial Bankshares by 20.7% in the fourth quarter. Eagle Asset Management Inc. now owns 757,502 shares of the bank’s stock valued at $38,776,000 after acquiring an additional 130,110 shares during the period. Goldman Sachs Group Inc. increased its position in shares of First Financial Bankshares by 11.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,481,520 shares of the bank’s stock valued at $75,320,000 after acquiring an additional 152,859 shares during the period. Ardevora Asset Management LLP increased its position in shares of First Financial Bankshares by 70.9% in the first quarter. Ardevora Asset Management LLP now owns 2,169,387 shares of the bank’s stock valued at $95,713,000 after acquiring an additional 900,084 shares during the period. Cim Investment Management Inc. increased its position in shares of First Financial Bankshares by 100.0% during the fourth quarter. Cim Investment Management Inc. now owns 10,340 shares of the bank’s stock valued at $501,000 after buying an additional 5,170 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of First Financial Bankshares by 0.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 188,645 shares of the bank’s stock valued at $9,591,000 after buying an additional 862 shares during the period. Hedge funds and other institutional investors own 53.35% of the company’s stock.

First Financial Bankshares Price Performance

NASDAQ:FFIN opened at $44.27 on Friday. First Financial Bankshares, Inc. has a one year low of $37.47 and a one year high of $55.00. The company’s 50-day simple moving average is $40.79 and its 200 day simple moving average is $43.31. The firm has a market capitalization of $6.32 billion, a P/E ratio of 27.50 and a beta of 0.88.

First Financial Bankshares (NASDAQ:FFINGet Rating) last issued its earnings results on Thursday, July 21st. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $139.47 million for the quarter, compared to the consensus estimate of $133.87 million. First Financial Bankshares had a net margin of 42.97% and a return on equity of 13.90%. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 1.62 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. First Financial Bankshares’s dividend payout ratio is presently 42.24%.

Insider Transactions at First Financial Bankshares

In other news, Director Johnny Trotter bought 1,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were purchased at an average price of $39.34 per share, for a total transaction of $39,340.00. Following the completion of the purchase, the director now owns 893,757 shares in the company, valued at approximately $35,160,400.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Michael B. Denny acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was purchased at an average cost of $40.65 per share, with a total value of $101,625.00. Following the completion of the acquisition, the director now directly owns 85,958 shares of the company’s stock, valued at $3,494,192.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnny Trotter acquired 1,000 shares of the firm’s stock in a transaction dated Friday, June 10th. The shares were bought at an average cost of $39.34 per share, with a total value of $39,340.00. Following the completion of the acquisition, the director now directly owns 893,757 shares of the company’s stock, valued at $35,160,400.38. The disclosure for this purchase can be found here. Insiders own 4.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Truist Financial boosted their price target on shares of First Financial Bankshares to $46.00 in a research report on Monday, July 25th. Stephens boosted their price target on shares of First Financial Bankshares to $44.00 in a research report on Tuesday, July 26th. Finally, Hovde Group reduced their price target on shares of First Financial Bankshares to $44.50 in a research report on Friday, July 22nd.

About First Financial Bankshares

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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