Bank of New York Mellon Corp lifted its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 940,752 shares of the bank’s stock after purchasing an additional 12,202 shares during the period. Bank of New York Mellon Corp’s holdings in First Financial Bankshares were worth $55,598,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. Northern Trust Corp raised its holdings in First Financial Bankshares by 5.6% in the second quarter. Northern Trust Corp now owns 859,020 shares of the bank’s stock valued at $43,726,000 after acquiring an additional 45,374 shares in the last quarter. Wells Fargo & Company MN raised its holdings in First Financial Bankshares by 1.3% in the third quarter. Wells Fargo & Company MN now owns 354,294 shares of the bank’s stock valued at $20,939,000 after acquiring an additional 4,555 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in First Financial Bankshares by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 186,633 shares of the bank’s stock valued at $11,030,000 after acquiring an additional 2,194 shares in the last quarter. Legal & General Group Plc raised its holdings in First Financial Bankshares by 5.9% in the second quarter. Legal & General Group Plc now owns 146,145 shares of the bank’s stock valued at $7,478,000 after acquiring an additional 8,176 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in First Financial Bankshares by 22.6% in the third quarter. First Trust Advisors LP now owns 142,458 shares of the bank’s stock valued at $8,419,000 after acquiring an additional 26,294 shares in the last quarter. 54.30% of the stock is currently owned by institutional investors and hedge funds.
FFIN stock opened at $60.20 on Friday. First Financial Bankshares Inc has a 1-year low of $44.05 and a 1-year high of $66.83. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 35.41 and a beta of 1.18.
First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 18th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The firm had revenue of $96.48 million during the quarter, compared to analyst estimates of $97.34 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that First Financial Bankshares Inc will post 2.19 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.40%. First Financial Bankshares’s payout ratio is 49.41%.
In other First Financial Bankshares news, Director Johnny Trotter bought 2,000 shares of the stock in a transaction on Tuesday, October 23rd. The stock was purchased at an average price of $55.65 per share, for a total transaction of $111,300.00. Following the completion of the purchase, the director now directly owns 384,926 shares in the company, valued at $21,421,131.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.77% of the stock is owned by insiders.
FFIN has been the topic of several recent analyst reports. Robert W. Baird initiated coverage on shares of First Financial Bankshares in a report on Tuesday, October 16th. They issued a “neutral” rating and a $60.00 price target on the stock. Stephens set a $52.00 price target on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Monday, October 22nd. BidaskClub raised shares of First Financial Bankshares from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 17th. Finally, Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, November 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. First Financial Bankshares has a consensus rating of “Hold” and a consensus target price of $52.83.
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About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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