SG Americas Securities LLC Increases Position in First Financial Bankshares, Inc. $FFIN

SG Americas Securities LLC boosted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 443.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,897 shares of the bank’s stock after acquiring an additional 28,480 shares during the period. SG Americas Securities LLC’s holdings in First Financial Bankshares were worth $1,256,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of First Financial Bankshares by 1.8% during the second quarter. Geode Capital Management LLC now owns 3,452,051 shares of the bank’s stock worth $124,218,000 after purchasing an additional 61,599 shares during the last quarter. Champlain Investment Partners LLC lifted its position in First Financial Bankshares by 5.9% during the first quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock worth $104,213,000 after buying an additional 161,991 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in First Financial Bankshares by 36.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after buying an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in First Financial Bankshares by 125.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock valued at $38,993,000 after buying an additional 604,648 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of First Financial Bankshares by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,070,755 shares of the bank’s stock valued at $38,526,000 after acquiring an additional 11,188 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First Financial Bankshares Stock Up 3.4%

FFIN opened at $31.36 on Friday. First Financial Bankshares, Inc. has a 52-week low of $29.80 and a 52-week high of $44.66. The company has a 50 day moving average of $32.42 and a two-hundred day moving average of $34.75. The company has a market cap of $4.49 billion, a P/E ratio of 18.56 and a beta of 0.88.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 $161.27 million for the quarter, compared to analyst estimates of $161.21 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

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

Insider Activity

In related news, CFO Michelle S. Hickox purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the acquisition, the chief financial officer directly owned 24,461 shares in the company, valued at $761,960.15. The trade was a 8.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sally Pope Davis acquired 1,700 shares of the stock in a transaction 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 transaction, the director directly owned 6,971 shares of the company’s stock, valued at $214,218.83. This represents a 32.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 4,353 shares of company stock valued at $134,888 in the last ninety days. 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.