JPMorgan Chase & Co. Has $17.09 Million Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

JPMorgan Chase & Co. increased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 39.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 461,726 shares of the bank’s stock after purchasing an additional 131,063 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of First Financial Bankshares worth $17,088,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in First Financial Bankshares in the 2nd quarter worth approximately $83,000. Huntington National Bank boosted its position in First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares during the last quarter. Point72 DIFC Ltd purchased a new position in First Financial Bankshares in the second quarter valued at about $97,000. Point72 Asset Management L.P. acquired a new position in First Financial Bankshares in the 2nd quarter worth about $118,000. Finally, US Bancorp DE raised its stake in shares of First Financial Bankshares by 50.9% during the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock worth $186,000 after purchasing an additional 1,696 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Hovde Group boosted their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Stephens boosted 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 report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial lifted their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Scott Dueser sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the completion of the transaction, the chief executive officer now directly owns 471,004 shares of the company’s stock, valued at approximately $19,183,992.92. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares Stock Up 1.1 %

Shares of First Financial Bankshares stock opened at $36.01 on Friday. First Financial Bankshares, Inc. has a 12-month low of $27.06 and a 12-month high of $44.66. The stock has a 50 day moving average price of $39.33 and a two-hundred day moving average price of $36.66. The stock has a market capitalization of $5.15 billion, a P/E ratio of 24.83 and a beta of 0.81.

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

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.00%. First Financial Bankshares’s payout ratio is 49.66%.

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.