Man Group plc Has $5.79 Million Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Man Group plc lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,614 shares of the bank’s stock after selling 9,754 shares during the period. Man Group plc’s holdings in First Financial Bankshares were worth $5,790,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FFIN. Keefe, Bruyette & Woods reduced their target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Hovde Group lowered their price objective on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Monday, April 21st.

Insider Activity at First Financial Bankshares

In related news, Director Johnny Trotter purchased 6,000 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the transaction, the director now 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 7,099 shares of company stock worth $247,751 in the last quarter. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Down 0.4%

Shares of First Financial Bankshares stock opened at $35.74 on Wednesday. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 22.91 and a beta of 0.89. The company has a 50-day simple moving average of $34.31 and a two-hundred day simple moving average of $36.88.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The firm had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.13%. 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 presently 46.91%.

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.