First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.9% in the third quarter, HoldingsChannel.com reports. The fund owned 26,337 shares of the bank’s stock after purchasing an additional 1,705 shares during the quarter. Kingsview Wealth Management LLC’s holdings in First Financial Bankshares were worth $975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its stake in First Financial Bankshares by 2.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 104,002 shares of the bank’s stock valued at $3,414,000 after purchasing an additional 2,424 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of First Financial Bankshares in the first quarter valued at approximately $408,000. Price T Rowe Associates Inc. MD lifted its stake in shares of First Financial Bankshares by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,096 shares of the bank’s stock valued at $2,760,000 after buying an additional 4,736 shares during the period. Olistico Wealth LLC acquired a new stake in First Financial Bankshares during the second quarter worth approximately $29,000. Finally, SG Americas Securities LLC grew its stake in First Financial Bankshares by 480.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after acquiring an additional 32,774 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FFIN. Truist Financial increased their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Hovde Group upped their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Stephens raised their price target on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Down 1.1 %

Shares of FFIN opened at $42.57 on Wednesday. First Financial Bankshares, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $44.66. The company’s fifty day moving average is $38.41 and its two-hundred day moving average is $34.75. The firm has a market cap of $6.08 billion, a PE ratio of 29.36 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The business had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. As a group, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

First Financial Bankshares Company 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.