Goldman Sachs Group Inc. Boosts Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Goldman Sachs Group Inc. grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,375,446 shares of the bank’s stock after acquiring an additional 79,106 shares during the period. Goldman Sachs Group Inc. owned about 0.96% of First Financial Bankshares worth $41,676,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FFIN. First Financial Bankshares Inc acquired a new position in shares of First Financial Bankshares in the fourth quarter worth about $553,577,000. Norges Bank acquired a new position in shares of First Financial Bankshares in the fourth quarter worth about $42,435,000. Natixis Advisors L.P. raised its position in shares of First Financial Bankshares by 39.7% in the fourth quarter. Natixis Advisors L.P. now owns 447,970 shares of the bank’s stock worth $13,573,000 after acquiring an additional 127,397 shares during the period. UBS Group AG raised its position in shares of First Financial Bankshares by 98.5% in the fourth quarter. UBS Group AG now owns 239,068 shares of the bank’s stock worth $7,244,000 after acquiring an additional 118,623 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of First Financial Bankshares by 58.7% in the third quarter. Envestnet Asset Management Inc. now owns 304,771 shares of the bank’s stock worth $7,656,000 after acquiring an additional 112,773 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Sally Pope Davis acquired 1,800 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was bought at an average price of $28.75 per share, for a total transaction of $51,750.00. Following the acquisition, the director now owns 1,800 shares in the company, valued at $51,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Johnny Trotter purchased 1,500 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was acquired at an average price of $30.22 per share, with a total value of $45,330.00. Following the purchase, the director now directly owns 940,371 shares in the company, valued at approximately $28,418,011.62. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sally Pope Davis purchased 1,800 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $28.75 per share, with a total value of $51,750.00. Following the purchase, the director now owns 1,800 shares in the company, valued at $51,750. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,743 shares of company stock worth $199,526. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Up 0.4 %

FFIN opened at $28.21 on Friday. First Financial Bankshares, Inc. has a twelve month low of $22.84 and a twelve month high of $33.15. The company has a 50-day moving average price of $29.82 and a 200 day moving average price of $30.29. The company has a market cap of $4.03 billion, a PE ratio of 20.15 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. First Financial Bankshares’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.48 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.55%. First Financial Bankshares’s payout ratio is 51.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FFIN. Stephens decreased their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Truist Financial reduced their price target on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.33.

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.