7,287 Shares in First Financial Bankshares, Inc. (NASDAQ:FFIN) Purchased by Michels Family Financial LLC

Michels Family Financial LLC bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,287 shares of the bank’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Strategic Financial Concepts LLC increased its position in First Financial Bankshares by 3,508.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock worth $101,222,000 after buying an additional 2,730,017 shares during the last quarter. Norges Bank acquired a new position in First Financial Bankshares during the fourth quarter worth approximately $47,757,000. Axiom Investors LLC DE acquired a new position in First Financial Bankshares during the fourth quarter worth approximately $16,937,000. Raymond James Financial Inc. acquired a new position in First Financial Bankshares during the fourth quarter worth approximately $8,341,000. Finally, JPMorgan Chase & Co. increased its position in First Financial Bankshares by 48.9% during the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock worth $24,777,000 after buying an additional 225,574 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

Insider Buying and Selling

In other First Financial Bankshares news, Director Johnny Trotter bought 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 7,099 shares of company stock valued at $247,751 over the last 90 days. 3.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FFIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on 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 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.

First Financial Bankshares Trading Down 0.8%

First Financial Bankshares stock opened at $34.21 on Friday. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66. The stock’s 50 day moving average is $34.23 and its 200-day moving average is $36.84. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 21.93 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%. As a group, 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 given a dividend of $0.19 per share. The ex-dividend date is Monday, June 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.22%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio is currently 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.