AlphaCrest Capital Management LLC Invests $318,000 in First Financial Bankshares Inc (NASDAQ:FFIN)

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.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. 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 quarter in the previous year, the firm earned $0.26 earnings per share. As a group, analysts forecast that First Financial Bankshares Inc will post 1.19 EPS for the current year.

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.

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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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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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