NEXT Financial Group Inc Acquires New Shares in First Financial Bankshares Inc (NASDAQ:FFIN)

NEXT Financial Group Inc acquired a new stake in First Financial Bankshares Inc (NASDAQ:FFIN) during the second quarter, Holdings Channel reports. The fund acquired 6,119 shares of the bank’s stock, valued at approximately $188,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of First Financial Bankshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,230,481 shares of the bank’s stock worth $70,986,000 after buying an additional 13,808 shares during the period. Bank of America Corp DE boosted its holdings in First Financial Bankshares by 212.7% in the 4th quarter. Bank of America Corp DE now owns 76,010 shares of the bank’s stock valued at $4,384,000 after purchasing an additional 51,700 shares during the period. Amalgamated Bank boosted its holdings in First Financial Bankshares by 127.0% in the 4th quarter. Amalgamated Bank now owns 10,200 shares of the bank’s stock valued at $588,000 after purchasing an additional 5,706 shares during the period. Norges Bank bought a new stake in First Financial Bankshares in the 4th quarter valued at $16,753,000. Finally, Geode Capital Management LLC boosted its holdings in First Financial Bankshares by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 822,663 shares of the bank’s stock valued at $47,459,000 after purchasing an additional 52,256 shares during the period. Hedge funds and other institutional investors own 55.53% of the company’s stock.

In other First Financial Bankshares news, Director Johnny Trotter acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $60.67 per share, for a total transaction of $121,340.00. Following the purchase, the director now owns 405,913 shares in the company, valued at approximately $24,626,741.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders bought 7,963 shares of company stock valued at $464,910. Corporate insiders own 4.90% of the company’s stock.

A number of analysts have weighed in on FFIN shares. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. ValuEngine downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Piper Jaffray Companies set a $27.00 price target on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Stephens reissued a “hold” rating and issued a $30.00 price target on shares of First Financial Bankshares in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.25.

Shares of First Financial Bankshares stock opened at $30.85 on Tuesday. First Financial Bankshares Inc has a fifty-two week low of $26.73 and a fifty-two week high of $33.43. The company has a market cap of $8.62 billion, a P/E ratio of 28.43 and a beta of 1.14. The firm has a fifty day moving average of $30.92.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. The company had revenue of $101.26 million during the quarter, compared to analysts’ expectations of $99.90 million. During the same quarter in the prior year, the company posted $0.49 EPS. On average, equities research analysts anticipate that First Financial Bankshares Inc will post 1.2 earnings per share for the current year.

First Financial Bankshares 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.

Further Reading: What is a Fiduciary?

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

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