AGF Management Ltd. Boosts Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

AGF Management Ltd. boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 39.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,447 shares of the bank’s stock after purchasing an additional 36,701 shares during the quarter. AGF Management Ltd. owned about 0.09% of First Financial Bankshares worth $3,688,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FFIN. Swiss National Bank grew its position in First Financial Bankshares by 0.9% in the second quarter. Swiss National Bank now owns 295,100 shares of the bank’s stock worth $8,407,000 after acquiring an additional 2,700 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in First Financial Bankshares by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,785 shares of the bank’s stock valued at $1,789,000 after buying an additional 4,321 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC bought a new stake in First Financial Bankshares in the second quarter worth $203,000. Envestnet Asset Management Inc. boosted its stake in First Financial Bankshares by 0.3% during the second quarter. Envestnet Asset Management Inc. now owns 191,998 shares of the bank’s stock worth $5,470,000 after buying an additional 651 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in First Financial Bankshares during the second quarter valued at $2,241,000. Institutional investors own 54.14% of the company’s stock.

Wall Street Analyst Weigh In

FFIN has been the subject of a number of recent analyst reports. StockNews.com assumed coverage on shares of First Financial Bankshares in a research note on Thursday, October 5th. They set a “sell” rating for the company. Truist Financial cut their price objective on First Financial Bankshares from $33.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th. Finally, Stephens decreased their target price on First Financial Bankshares from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, October 20th.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was acquired at an average cost of $29.04 per share, with a total value of $72,600.00. Following the completion of the transaction, the director now owns 927,576 shares in the company, valued at approximately $26,936,807.04. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other First Financial Bankshares news, Director April Kaye Bullock Anthony purchased 5,000 shares of the stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $22.90 per share, with a total value of $114,500.00. Following the completion of the acquisition, the director now owns 93,146 shares in the company, valued at $2,133,043.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Johnny Trotter acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $29.04 per share, for a total transaction of $72,600.00. Following the acquisition, the director now owns 927,576 shares of the company’s stock, valued at $26,936,807.04. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,937 shares of company stock valued at $226,731 over the last quarter. 4.11% of the stock is owned by corporate insiders.

First Financial Bankshares Price Performance

NASDAQ:FFIN opened at $26.92 on Thursday. The firm has a market cap of $3.84 billion, a PE ratio of 18.07 and a beta of 0.81. The company has a 50-day moving average of $25.12 and a 200 day moving average of $27.64. First Financial Bankshares, Inc. has a 1-year low of $22.84 and a 1-year high of $38.57.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $125.04 million for the quarter, compared to the consensus estimate of $128.70 million. First Financial Bankshares had a net margin of 34.05% and a return on equity of 16.14%. Sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.4 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, December 14th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 48.32%.

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.