Proficio Capital Partners LLC Invests $402,000 in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Proficio Capital Partners LLC bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,139 shares of the bank’s stock, valued at approximately $402,000.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of First Financial Bankshares during the 3rd quarter worth about $673,000. State Street Corp lifted its stake in shares of First Financial Bankshares by 4.7% during the 3rd quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock worth $231,381,000 after buying an additional 281,166 shares during the last quarter. Citigroup Inc. lifted its stake in shares of First Financial Bankshares by 27.0% during the 3rd quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock worth $9,273,000 after buying an additional 53,195 shares during the last quarter. Natixis Advisors LLC lifted its stake 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 during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of First Financial Bankshares by 43.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock worth $14,578,000 after buying an additional 118,830 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

First Financial Bankshares Stock Down 2.1 %

Shares of First Financial Bankshares stock opened at $35.57 on Tuesday. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The company has a 50-day simple moving average of $36.95 and a two-hundred day simple moving average of $37.77. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 22.80 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares’s payout ratio is presently 46.15%.

Insider Activity

In other news, CEO F Scott Dueser sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 471,004 shares in the company, valued at approximately $19,183,992.92. The trade was a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.22% of the company’s stock.

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.