First Financial Bankshares, Inc. $FFIN Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,070,755 shares of the bank’s stock after buying an additional 11,188 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of First Financial Bankshares worth $38,526,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in FFIN. Raymond James Financial Inc. grew its holdings in First Financial Bankshares by 25.2% during the 1st quarter. Raymond James Financial Inc. now owns 289,652 shares of the bank’s stock worth $10,404,000 after acquiring an additional 58,291 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of First Financial Bankshares during the 1st quarter worth $1,022,000. Prime Capital Investment Advisors LLC acquired a new position in shares of First Financial Bankshares during the second quarter worth $2,691,000. Mutual of America Capital Management LLC increased its holdings in First Financial Bankshares by 10.8% in the second quarter. Mutual of America Capital Management LLC now owns 484,812 shares of the bank’s stock valued at $17,444,000 after buying an additional 47,118 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in First Financial Bankshares by 5.9% in the first quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock valued at $104,213,000 after buying an additional 161,991 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, October 24th. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Tuesday, October 14th. Finally, Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Price Performance

Shares of NASDAQ:FFIN opened at $31.36 on Thursday. First Financial Bankshares, Inc. has a 1-year low of $30.19 and a 1-year high of $44.66. The stock has a market cap of $4.49 billion, a P/E ratio of 18.56 and a beta of 0.88. The firm has a fifty day moving average price of $33.24 and a 200 day moving average price of $34.92.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, October 24th. The bank reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The business had revenue of $63.90 million during the quarter, compared to analysts’ expectations of $161.21 million. During the same period in the previous year, the company posted $0.37 earnings per share. First Financial Bankshares’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 15th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.97%.

Insider Activity at First Financial Bankshares

In related news, Director Sally Pope Davis purchased 1,700 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of $30.73 per share, with a total value of $52,241.00. Following the completion of the acquisition, the director directly owned 6,971 shares in the company, valued at $214,218.83. This trade represents a 32.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michelle S. Hickox acquired 2,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $31.15 per share, for a total transaction of $62,300.00. Following the completion of the purchase, the chief financial officer directly owned 24,461 shares in the company, valued at $761,960.15. This trade represents a 8.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 4,353 shares of company stock worth $134,888 over the last quarter. Company insiders own 4.22% of the company’s stock.

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.