UBS Group AG Buys 299,079 Shares of First Financial Bankshares, Inc. $FFIN

UBS Group AG raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 72.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 710,699 shares of the bank’s stock after purchasing an additional 299,079 shares during the quarter. UBS Group AG’s holdings in First Financial Bankshares were worth $21,229,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in First Financial Bankshares by 31.8% during the 3rd quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank’s stock valued at $43,434,000 after buying an additional 311,628 shares during the period. Invesco Ltd. raised its stake in shares of First Financial Bankshares by 3.9% during the third quarter. Invesco Ltd. now owns 1,144,070 shares of the bank’s stock valued at $38,498,000 after acquiring an additional 43,042 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of First Financial Bankshares by 314.0% during the second quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock valued at $17,640,000 after acquiring an additional 371,847 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of First Financial Bankshares by 40.3% during the third quarter. JPMorgan Chase & Co. now owns 472,557 shares of the bank’s stock worth $15,902,000 after purchasing an additional 135,804 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of First Financial Bankshares by 3,204.2% in the fourth quarter. SG Americas Securities LLC now owns 417,192 shares of the bank’s stock worth $12,462,000 after purchasing an additional 404,566 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FFIN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods reduced their target price on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Financial Bankshares presently has an average rating of “Hold” and an average price target of $37.33.

First Financial Bankshares Trading Down 2.4%

Shares of FFIN opened at $31.48 on Tuesday. First Financial Bankshares, Inc. has a 1-year low of $28.11 and a 1-year high of $38.74. The firm’s 50-day moving average price is $30.74 and its 200-day moving average price is $31.39. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 17.11 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The company had revenue of $166.89 million during the quarter, compared to the consensus estimate of $166.78 million. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, research analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s dividend payout ratio is currently 41.30%.

Insider Transactions at First Financial Bankshares

In other news, Director Geoff Haney purchased 10,200 shares of First Financial Bankshares stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average cost of $33.18 per share, with a total value of $338,436.00. Following the completion of the purchase, the director directly owned 32,146 shares in the company, valued at approximately $1,066,604.28. This trade represents a 46.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Murray Hamilton Edwards acquired 1,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $29.32 per share, with a total value of $29,320.00. Following the acquisition, the director owned 43,634 shares of the company’s stock, valued at $1,279,348.88. This represents a 2.35% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 21,164 shares of company stock worth $664,723. 3.80% of the stock is owned by insiders.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.