Geode Capital Management LLC Acquires 61,599 Shares of First Financial Bankshares, Inc. $FFIN

Geode Capital Management LLC grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,452,051 shares of the bank’s stock after purchasing an additional 61,599 shares during the quarter. Geode Capital Management LLC owned approximately 2.41% of First Financial Bankshares worth $124,218,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FFIN. Nuveen LLC purchased a new stake in First Financial Bankshares in the first quarter worth $34,662,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of First Financial Bankshares by 36.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock valued at $88,571,000 after buying an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of First Financial Bankshares by 125.7% during the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock worth $38,993,000 after acquiring an additional 604,648 shares during the period. Jupiter Asset Management Ltd. increased its holdings in First Financial Bankshares by 336.8% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 422,245 shares of the bank’s stock worth $15,192,000 after acquiring an additional 325,572 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in First Financial Bankshares by 484.7% in the 1st quarter. Jane Street Group LLC now owns 251,601 shares of the bank’s stock valued at $9,038,000 after acquiring an additional 208,573 shares during the period. 69.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FFIN has been the subject of a number of recent research reports. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Finally, Cantor Fitzgerald initiated coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 target price for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.00.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, CFO Michelle S. Hickox purchased 2,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $31.15 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief financial officer directly owned 24,461 shares in the company, valued at approximately $761,960.15. This represents a 8.90% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sally Pope Davis acquired 1,700 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $30.73 per share, for a total transaction of $52,241.00. Following the acquisition, the director owned 6,971 shares of the company’s stock, valued at approximately $214,218.83. This trade represents a 32.25% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 4,353 shares of company stock worth $134,888. 4.22% of the stock is owned by insiders.

First Financial Bankshares Trading Down 0.1%

FFIN opened at $30.20 on Thursday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 17.87 and a beta of 0.88. The stock has a 50-day moving average price of $32.63 and a 200-day moving average price of $34.80. First Financial Bankshares, Inc. has a 12-month low of $29.80 and a 12-month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The firm had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.21 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. First Financial Bankshares’s dividend payout ratio is 44.97%.

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.