Bridges Investment Management Inc. Has $900,000 Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bridges Investment Management Inc. increased its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 15.8% during the fourth quarter, Holdings Channel reports. The firm owned 24,978 shares of the bank’s stock after acquiring an additional 3,408 shares during the period. Bridges Investment Management Inc.’s holdings in First Financial Bankshares were worth $900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank grew its stake in First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after buying an additional 577 shares in the last quarter. R Squared Ltd acquired a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $88,000. US Bancorp DE increased its stake in First Financial Bankshares by 50.9% in the third quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock valued at $186,000 after acquiring an additional 1,696 shares during the last quarter. KBC Group NV raised its position in First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in First Financial Bankshares during the third quarter worth $205,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $37.66 on Monday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 24.14 and a beta of 0.83. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66. The company’s 50 day moving average price is $36.95 and its two-hundred day moving average price is $37.72.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating 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, analysts expect 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 paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.91%. 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

In other First Financial Bankshares news, CEO F Scott Dueser sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the transaction, the chief executive officer now directly owns 471,004 shares in the company, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research note 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.