Northern Trust Corp Has $64.05 Million Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Northern Trust Corp increased its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,776,607 shares of the bank’s stock after acquiring an additional 133,274 shares during the quarter. Northern Trust Corp owned about 1.24% of First Financial Bankshares worth $64,047,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FFIN. Assetmark Inc. acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at $33,000. R Squared Ltd bought a new stake in shares of First Financial Bankshares during the 4th quarter worth about $88,000. Harvest Fund Management Co. Ltd grew its stake in First Financial Bankshares by 1,497.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock valued at $118,000 after buying an additional 3,039 shares during the last quarter. KBC Group NV raised its holdings 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 position in First Financial Bankshares by 7.4% during the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

Analysts Set New Price Targets

FFIN has been the topic of several research reports. Hovde Group decreased their target price on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Monday, April 21st.

First Financial Bankshares Trading Down 0.3 %

Shares of FFIN opened at $34.32 on Wednesday. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66. The firm’s 50 day moving average is $34.46 and its 200-day moving average is $36.96. The stock has a market capitalization of $4.91 billion, a PE ratio of 22.00 and a beta of 0.89.

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

First Financial Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, June 16th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s payout ratio is 46.91%.

Insider Buying and Selling

In other news, Director Johnny Trotter bought 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 7,099 shares of company stock valued at $247,751 over the last quarter. 4.22% of the stock is owned by company insiders.

First Financial Bankshares Company 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.