Algert Global LLC Raises Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Algert Global LLC boosted its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,979 shares of the bank’s stock after purchasing an additional 3,760 shares during the period. Algert Global LLC’s holdings in First Financial Bankshares were worth $591,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Lindenwold Advisors INC boosted its holdings in shares of First Financial Bankshares by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock worth $336,000 after buying an additional 250 shares during the last quarter. Signaturefd LLC boosted its stake in First Financial Bankshares by 5.0% in the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after acquiring an additional 270 shares during the last quarter. Crewe Advisors LLC grew its position in shares of First Financial Bankshares by 6.0% during the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after acquiring an additional 296 shares during the period. Ballentine Partners LLC increased its stake in shares of First Financial Bankshares by 2.8% during the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after purchasing an additional 333 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after purchasing an additional 577 shares during the period. Institutional investors own 69.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $41.68 on Friday. The firm has a market capitalization of $5.96 billion, a P/E ratio of 28.74 and a beta of 0.78. First Financial Bankshares, Inc. has a one year low of $25.99 and a one year high of $44.66. The business has a fifty day moving average price of $38.62 and a 200-day moving average price of $34.94.

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

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 1.73%. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FFIN. Truist Financial raised their target price on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens lifted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group upped their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st.

First Financial Bankshares Company 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.