Kingsview Wealth Management LLC Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Kingsview Wealth Management LLC boosted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,337 shares of the bank’s stock after purchasing an additional 1,705 shares during the quarter. Kingsview Wealth Management LLC’s holdings in First Financial Bankshares were worth $975,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Champlain Investment Partners LLC raised its holdings in shares of First Financial Bankshares by 6.8% in the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after buying an additional 223,640 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First Financial Bankshares by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock worth $75,482,000 after acquiring an additional 130,361 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Financial Bankshares by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank’s stock valued at $62,961,000 after purchasing an additional 62,538 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of First Financial Bankshares by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $42.57 on Wednesday. The business’s fifty day moving average price is $38.41 and its 200 day moving average price is $34.75. The firm has a market capitalization of $6.08 billion, a PE ratio of 29.36 and a beta of 0.78. First Financial Bankshares, Inc. has a 1-year low of $25.99 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The business had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Insider Activity

In other news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares of the company’s stock, valued at $4,156,615.20. The trade was a 6.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FFIN shares. Hovde Group increased their price target on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Stephens raised their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Truist Financial boosted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th.

First Financial Bankshares Profile

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.