PNC Financial Services Group Inc. Grows Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

PNC Financial Services Group Inc. grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,545 shares of the bank’s stock after purchasing an additional 547 shares during the quarter. PNC Financial Services Group Inc.’s holdings in First Financial Bankshares were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in First Financial Bankshares in the 4th quarter worth approximately $33,000. R Squared Ltd purchased a new stake in First Financial Bankshares in the 4th quarter worth approximately $88,000. US Bancorp DE increased its holdings in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after acquiring an additional 370 shares in the last quarter. KBC Group NV boosted its stake in First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after purchasing an additional 1,819 shares during the period. Finally, Captrust Financial Advisors bought a new position in First Financial Bankshares in the 3rd quarter worth approximately $205,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Activity

In related news, Director Johnny Trotter purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the acquisition, the director now owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This represents a 0.64 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price target on 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 Performance

NASDAQ FFIN opened at $35.70 on Friday. The company has a market capitalization of $5.10 billion, a P/E ratio of 22.88 and a beta of 0.78. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66. The stock has a 50 day moving average price of $36.90 and a 200-day moving average price of $37.70.

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

First Financial Bankshares Dividend Announcement

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 dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.02%. First Financial Bankshares’s dividend payout ratio is currently 46.15%.

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.