Alliancebernstein L.P. Raises Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Alliancebernstein L.P. boosted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 9.3% during the third quarter, Holdings Channel reports. The fund owned 3,255,136 shares of the bank’s stock after acquiring an additional 275,735 shares during the period. Alliancebernstein L.P.’s holdings in First Financial Bankshares were worth $149,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its stake in shares of First Financial Bankshares by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 54,682 shares of the bank’s stock valued at $2,687,000 after buying an additional 325 shares during the last quarter. CNA Financial Corp grew its stake in shares of First Financial Bankshares by 1.4% during the second quarter. CNA Financial Corp now owns 27,860 shares of the bank’s stock valued at $1,369,000 after buying an additional 380 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of First Financial Bankshares by 8.0% during the third quarter. CIBC Asset Management Inc now owns 5,534 shares of the bank’s stock valued at $254,000 after buying an additional 410 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC grew its stake in shares of First Financial Bankshares by 8.8% in the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 6,200 shares of the bank’s stock worth $333,000 after purchasing an additional 500 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of First Financial Bankshares by 46.7% in the second quarter. Toronto Dominion Bank now owns 1,762 shares of the bank’s stock worth $87,000 after purchasing an additional 561 shares during the last quarter. 52.79% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, January 6th.

Shares of FFIN stock opened at $52.81 on Friday. The stock has a market cap of $7.52 billion, a P/E ratio of 32.80 and a beta of 0.87. First Financial Bankshares, Inc. has a 52 week low of $37.50 and a 52 week high of $55.00. The company’s fifty day simple moving average is $51.99 and its two-hundred day simple moving average is $49.28.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Wednesday, October 20th. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. The business had revenue of $137.18 million during the quarter, compared to analysts’ expectations of $128.97 million. First Financial Bankshares had a net margin of 44.72% and a return on equity of 13.57%. On average, research analysts forecast that First Financial Bankshares, Inc. will post 1.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Thursday, December 16th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. First Financial Bankshares’s dividend payout ratio (DPR) is 37.27%.

In other First Financial Bankshares news, Director Johnny Trotter acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 15th. The stock was purchased at an average price of $50.22 per share, for a total transaction of $50,220.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Scott Dueser sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $50.74, for a total transaction of $2,029,600.00. The disclosure for this sale can be found here. Over the last three months, insiders bought 2,274 shares of company stock worth $115,113. Insiders own 4.20% of the company’s stock.

First Financial Bankshares Company 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.

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

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