American International Group Inc. grew its stake in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 245.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,530 shares of the bank’s stock after buying an additional 124,764 shares during the period. American International Group Inc.’s holdings in First Financial Bankshares were worth $10,142,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC purchased a new stake in shares of First Financial Bankshares in the 3rd quarter valued at approximately $207,000. AQR Capital Management LLC increased its position in shares of First Financial Bankshares by 33.5% in the 3rd quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock valued at $310,000 after purchasing an additional 1,318 shares during the last quarter. Vanguard Group Inc increased its position in shares of First Financial Bankshares by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock valued at $388,245,000 after purchasing an additional 138,088 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of First Financial Bankshares by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 22,666 shares of the bank’s stock valued at $1,307,000 after purchasing an additional 390 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of First Financial Bankshares by 9.2% in the 4th quarter. Bank of Montreal Can now owns 5,479 shares of the bank’s stock valued at $315,000 after purchasing an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 55.53% of the company’s stock.
A number of equities research analysts have commented on FFIN shares. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Stephens set a $57.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $60.67.
Shares of First Financial Bankshares are set to split on Monday, June 3rd. The 2-1 split was announced on Tuesday, April 23rd. The newly issued shares will be payable to shareholders after the market closes on Friday, May 31st.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, April 18th. The bank reported $0.56 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.56. The firm had revenue of $95.77 million for the quarter, compared to the consensus estimate of $96.90 million. First Financial Bankshares had a net margin of 38.47% and a return on equity of 15.03%. During the same period last year, the firm posted $0.51 EPS. As a group, research analysts predict that First Financial Bankshares Inc will post 2.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 38.53%.
In related news, Director David L. Copeland sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $61.68, for a total value of $308,400.00. Following the transaction, the director now directly owns 34,094 shares of the company’s stock, valued at approximately $2,102,917.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Johnny Trotter bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $60.67 per share, for a total transaction of $121,340.00. Following the completion of the transaction, the director now directly owns 405,913 shares in the company, valued at $24,626,741.71. The disclosure for this purchase can be found here. Insiders purchased a total of 15,218 shares of company stock worth $928,508 over the last ninety days. Insiders own 4.90% of the company’s stock.
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First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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