Bank of New York Mellon Corp raised its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,396,252 shares of the bank’s stock after buying an additional 31,120 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of First Financial Bankshares worth $58,406,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of First Financial Bankshares by 115.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 754 shares of the bank’s stock valued at $30,000 after purchasing an additional 404 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of First Financial Bankshares during the 3rd quarter valued at about $38,000. Signaturefd LLC lifted its holdings in shares of First Financial Bankshares by 62.7% during the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the bank’s stock valued at $50,000 after purchasing an additional 462 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of First Financial Bankshares during the 2nd quarter valued at about $134,000. Finally, Van ECK Associates Corp lifted its holdings in shares of First Financial Bankshares by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 3,824 shares of the bank’s stock valued at $160,000 after purchasing an additional 344 shares in the last quarter. 53.86% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently weighed in on FFIN. Truist Financial cut their price objective on First Financial Bankshares from $42.00 to $38.00 in a report on Friday, December 9th. StockNews.com upgraded First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Friday, February 24th.
First Financial Bankshares Stock Down 5.4 %
First Financial Bankshares (NASDAQ:FFIN – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The bank reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. First Financial Bankshares had a return on equity of 17.98% and a net margin of 41.53%. The firm had revenue of $132.56 million during the quarter, compared to the consensus estimate of $136.32 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.65 earnings per share for the current fiscal year.
First Financial Bankshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, March 10th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 41.72%.
Insiders Place Their Bets
In other news, CFO Michelle S. Hickox purchased 3,000 shares of First Financial Bankshares stock in a transaction on Wednesday, February 8th. The stock was purchased at an average price of $37.95 per share, with a total value of $113,850.00. Following the transaction, the chief financial officer now directly owns 8,000 shares in the company, valued at approximately $303,600. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Michelle S. Hickox acquired 5,000 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was bought at an average price of $36.44 per share, with a total value of $182,200.00. Following the acquisition, the chief financial officer now owns 5,000 shares in the company, valued at approximately $182,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle S. Hickox acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, February 8th. The stock was bought at an average cost of $37.95 per share, with a total value of $113,850.00. Following the acquisition, the chief financial officer now owns 8,000 shares in the company, valued at approximately $303,600. The disclosure for this purchase can be found here. Insiders bought a total of 11,000 shares of company stock valued at $398,200 in the last quarter. 4.19% of the stock is currently owned by insiders.
About First Financial Bankshares
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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