AlphaCrest Capital Management LLC acquired a new stake in First Financial Bankshares Inc (NASDAQ:FFIN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,500 shares of the bank’s stock, valued at approximately $318,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Neuburgh Advisers LLC raised its stake in First Financial Bankshares by 3.9% during the 4th quarter. Neuburgh Advisers LLC now owns 6,384 shares of the bank’s stock worth $368,000 after acquiring an additional 240 shares in the last quarter. LPL Financial LLC raised its stake in First Financial Bankshares by 7.4% during the 4th quarter. LPL Financial LLC now owns 3,753 shares of the bank’s stock worth $217,000 after acquiring an additional 258 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in First Financial Bankshares by 3.2% during the 4th quarter. Virginia Retirement Systems ET AL now owns 9,700 shares of the bank’s stock worth $560,000 after acquiring an additional 300 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in First Financial Bankshares by 20.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,213 shares of the bank’s stock worth $127,000 after acquiring an additional 381 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in First Financial Bankshares by 767.3% during the 1st quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock worth $26,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 55.53% of the company’s stock.
FFIN stock opened at $29.63 on Friday. The stock has a market cap of $8.01 billion, a P/E ratio of 27.18 and a beta of 1.16. First Financial Bankshares Inc has a 52 week low of $25.27 and a 52 week high of $33.42.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Friday, June 14th. First Financial Bankshares’s dividend payout ratio is currently 38.53%.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $32.50 price objective on the stock in a research report on Monday, April 1st. Stephens reaffirmed a “neutral” rating and issued a $28.50 target price on shares of First Financial Bankshares in a report on Monday, April 22nd. BidaskClub downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 5th. Finally, ValuEngine downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. First Financial Bankshares currently has an average rating of “Hold” and an average target price of $30.33.
In related news, Director Johnny Trotter acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average price of $61.61 per share, with a total value of $184,830.00. Following the completion of the acquisition, the director now owns 394,913 shares in the company, valued at $24,330,589.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Copeland sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total transaction of $308,400.00. Following the sale, the director now directly owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. In the last three months, insiders have purchased 10,511 shares of company stock worth $643,239. 4.90% of the stock is owned by insiders.
About First Financial Bankshares
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.
Read More: Intrinsic Value and Stock Selection
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