Huntington National Bank Grows Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Huntington National Bank increased its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 32.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,369 shares of the bank’s stock after buying an additional 577 shares during the period. Huntington National Bank’s holdings in First Financial Bankshares were worth $88,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of First Financial Bankshares by 5.0% in the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after purchasing an additional 270 shares in the last quarter. Crewe Advisors LLC lifted its holdings in First Financial Bankshares by 6.0% during the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after buying an additional 296 shares during the last quarter. Ballentine Partners LLC grew its position in shares of First Financial Bankshares by 2.8% in the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after acquiring an additional 333 shares in the last quarter. Diversified Trust Co increased its holdings in shares of First Financial Bankshares by 3.0% in the 2nd quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock valued at $865,000 after acquiring an additional 865 shares during the last quarter. Finally, Profund Advisors LLC raised its position in shares of First Financial Bankshares by 9.2% during the 2nd quarter. Profund Advisors LLC now owns 10,289 shares of the bank’s stock valued at $304,000 after acquiring an additional 869 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Hovde Group boosted their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Stephens raised their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th.

Insider Activity at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares in the company, valued at $4,156,615.20. This represents a 6.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.22% of the stock is owned by insiders.

First Financial Bankshares Stock Performance

FFIN stock opened at $41.25 on Tuesday. The stock’s fifty day moving average is $37.76 and its two-hundred day moving average is $34.28. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 28.45 and a beta of 0.78. First Financial Bankshares, Inc. has a 1 year low of $25.99 and a 1 year high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The firm had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. As a group, analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is 49.66%.

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.