Dark Forest Capital Management LP Purchases Shares of 22,779 First Financial Bankshares, Inc. (NASDAQ:FFIN)

Dark Forest Capital Management LP acquired a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,779 shares of the bank’s stock, valued at approximately $821,000.

Several other large investors also recently made changes to their positions in the stock. Assetmark Inc. acquired a new position in First Financial Bankshares during the fourth quarter worth approximately $33,000. R Squared Ltd bought a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $88,000. Harvest Fund Management Co. Ltd increased its holdings in shares of First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after acquiring an additional 3,039 shares during the last quarter. KBC Group NV raised its stake in First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after acquiring an additional 1,819 shares during the period. Finally, US Bancorp DE lifted its holdings in First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock valued at $195,000 after purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Johnny Trotter acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the transaction, the director now directly owns 949,371 shares of the company’s stock, valued at $33,341,909.52. This trade represents a 0.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 7,041 shares of company stock worth $247,992 in the last 90 days. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Performance

FFIN opened at $33.78 on Friday. The stock has a fifty day moving average of $34.97 and a 200-day moving average of $37.16. The company has a market capitalization of $4.83 billion, a P/E ratio of 21.65 and a beta of 0.82. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million during the quarter, compared to analysts’ expectations of $149.48 million. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

FFIN has been the topic of several research reports. Keefe, Bruyette & Woods decreased their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Monday. Hovde Group decreased their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Monday.

First Financial Bankshares Profile

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.