Van ECK Associates Corp Acquires New Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Van ECK Associates Corp bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,206 shares of the bank’s stock, valued at approximately $3,504,000. Van ECK Associates Corp owned 0.07% of First Financial Bankshares at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in shares of First Financial Bankshares in the third quarter worth $673,000. State Street Corp lifted its holdings in shares of First Financial Bankshares by 4.7% in the 3rd quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock worth $231,381,000 after purchasing an additional 281,166 shares during the last quarter. Citigroup Inc. lifted its position in First Financial Bankshares by 27.0% in the 3rd quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock valued at $9,273,000 after purchasing an additional 53,195 shares during the last quarter. Mutual of America Capital Management LLC increased its position in First Financial Bankshares by 43.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock valued at $14,578,000 after acquiring an additional 118,830 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of First Financial Bankshares by 37.5% during the 3rd quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock worth $22,701,000 after buying an additional 167,433 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $37.32 on Thursday. The company has a market cap of $5.33 billion, a PE ratio of 23.92 and a beta of 0.83. The firm has a 50 day simple moving average of $37.23 and a 200 day simple moving average of $37.57. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. On average, equities analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 1.93%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 46.15%.

Insiders Place Their Bets

In other news, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the sale, the chief executive officer now owns 471,004 shares in the company, valued at approximately $19,183,992.92. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, January 27th.

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.