First Trust Advisors LP lifted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 26.0% in the third quarter, HoldingsChannel reports. The fund owned 184,109 shares of the bank’s stock after purchasing an additional 37,976 shares during the quarter. First Trust Advisors LP’s holdings in First Financial Bankshares were worth $7,701,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FFIN. Quadrant Capital Group LLC raised its holdings in shares of First Financial Bankshares by 115.4% during the second quarter. Quadrant Capital Group LLC now owns 754 shares of the bank’s stock valued at $30,000 after acquiring an additional 404 shares during the period. Wipfli Financial Advisors LLC bought a new stake in shares of First Financial Bankshares during the 3rd quarter worth $38,000. Signaturefd LLC boosted its holdings in First Financial Bankshares by 62.7% in the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the bank’s stock valued at $50,000 after purchasing an additional 462 shares during the period. Chilton Capital Management LLC bought a new stake in First Financial Bankshares in the 2nd quarter valued at $134,000. Finally, Van ECK Associates Corp boosted its holdings in First Financial Bankshares by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 3,824 shares of the bank’s stock valued at $160,000 after purchasing an additional 344 shares during the period. 53.86% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Johnny Trotter acquired 3,000 shares of the stock in a transaction dated Wednesday, January 25th. The stock was bought at an average price of $34.05 per share, with a total value of $102,150.00. Following the completion of the purchase, the director now directly owns 905,057 shares of the company’s stock, valued at approximately $30,817,190.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Financial Bankshares news, CFO Michelle S. Hickox purchased 5,000 shares of the business’s stock in a transaction on Monday, February 6th. The shares were purchased at an average cost of $36.44 per share, for a total transaction of $182,200.00. Following the acquisition, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $182,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Johnny Trotter purchased 3,000 shares of the business’s stock in a transaction on Wednesday, January 25th. The shares were acquired at an average price of $34.05 per share, for a total transaction of $102,150.00. Following the completion of the acquisition, the director now directly owns 905,057 shares in the company, valued at approximately $30,817,190.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 16,000 shares of company stock valued at $573,440. 4.19% of the stock is currently owned by corporate insiders.
First Financial Bankshares Stock Down 9.2 %
First Financial Bankshares (NASDAQ:FFIN – Get Rating) last released its quarterly earnings data on Thursday, January 19th. The bank reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. First Financial Bankshares had a net margin of 41.53% and a return on equity of 17.98%. The firm had revenue of $132.56 million during the quarter, compared to analysts’ expectations of $136.32 million. During the same period in the previous year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.65 EPS for the current year.
First Financial Bankshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $0.68 annualized dividend and a yield of 2.28%. First Financial Bankshares’s dividend payout ratio is 41.72%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on FFIN shares. Truist Financial dropped their price objective on shares of First Financial Bankshares from $42.00 to $38.00 in a research note on Friday, December 9th. StockNews.com cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Friday.
First Financial Bankshares Profile
First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.
- Get a free copy of the StockNews.com research report on First Financial Bankshares (FFIN)
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