US Bancorp DE Buys 1,696 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

US Bancorp DE grew its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 50.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,026 shares of the bank’s stock after purchasing an additional 1,696 shares during the quarter. US Bancorp DE’s holdings in First Financial Bankshares were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FFIN. Signaturefd LLC raised its holdings in shares of First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after purchasing an additional 270 shares during the period. Crewe Advisors LLC increased its position in First Financial Bankshares by 6.0% in the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after buying an additional 296 shares in the last quarter. Ballentine Partners LLC raised its stake in First Financial Bankshares by 2.8% during the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after buying an additional 333 shares during the period. Kingsview Wealth Management LLC boosted its holdings in First Financial Bankshares by 2.2% in the first quarter. Kingsview Wealth Management LLC now owns 24,750 shares of the bank’s stock worth $812,000 after acquiring an additional 544 shares in the last quarter. Finally, Diversified Trust Co grew its stake in First Financial Bankshares by 3.0% in the second quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock valued at $865,000 after acquiring an additional 865 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Stock Down 1.0 %

FFIN stock opened at $41.38 on Friday. The firm has a market capitalization of $5.91 billion, a PE ratio of 28.83 and a beta of 0.78. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $43.57. The stock’s 50 day moving average is $37.41 and its 200-day moving average is $34.01.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s payout ratio is currently 49.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FFIN. Truist Financial upped their target price on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens upped their price objective on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group raised their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.22% of the stock is owned by corporate insiders.

About First Financial Bankshares

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.