Assetmark Inc. Acquires Shares of 923 First Financial Bankshares, Inc. (NASDAQ:FFIN)

Assetmark Inc. acquired a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 923 shares of the bank’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindenwold Advisors INC raised its position in First Financial Bankshares by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock valued at $336,000 after purchasing an additional 250 shares during the last quarter. Kingsview Wealth Management LLC raised its position in First Financial Bankshares by 1.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank’s stock valued at $961,000 after purchasing an additional 312 shares during the last quarter. US Bancorp DE raised its holdings in shares of First Financial Bankshares by 7.4% in the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock valued at $195,000 after buying an additional 370 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of First Financial Bankshares by 2.3% in the fourth quarter. Pacer Advisors Inc. now owns 19,170 shares of the bank’s stock worth $691,000 after acquiring an additional 432 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in First Financial Bankshares by 3.9% in the 4th quarter. Ballentine Partners LLC now owns 12,665 shares of the bank’s stock worth $457,000 after purchasing an additional 475 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

First Financial Bankshares Trading Up 1.9 %

NASDAQ:FFIN opened at $35.78 on Friday. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 22.94 and a beta of 0.78. The business’s 50-day moving average price is $36.90 and its two-hundred day moving average price is $37.73. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. Sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares’s dividend payout ratio is presently 46.15%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.