Alliancebernstein L.P. Purchases 275,735 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Alliancebernstein L.P. raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,255,136 shares of the bank’s stock after acquiring an additional 275,735 shares during the period. Alliancebernstein L.P. owned about 2.28% of First Financial Bankshares worth $149,573,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FFIN. Advisory Services Network LLC acquired a new position in First Financial Bankshares in the second quarter worth $64,000. Van ECK Associates Corp grew its holdings in shares of First Financial Bankshares by 144.7% during the second quarter. Van ECK Associates Corp now owns 1,718 shares of the bank’s stock worth $84,000 after buying an additional 1,016 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of First Financial Bankshares by 46.7% during the second quarter. Toronto Dominion Bank now owns 1,762 shares of the bank’s stock worth $87,000 after buying an additional 561 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of First Financial Bankshares during the third quarter worth about $268,000. Finally, Mackenzie Financial Corp bought a new position in shares of First Financial Bankshares during the second quarter worth about $218,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

In other news, CEO F Scott Dueser sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $50.74, for a total value of $2,029,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnny Trotter acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, December 15th. The stock was acquired at an average cost of $50.22 per share, with a total value of $50,220.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,274 shares of company stock valued at $115,113. Corporate insiders own 4.20% of the company’s stock.

Separately, Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, January 6th.

FFIN stock opened at $52.81 on Friday. The business has a 50 day moving average price of $51.99 and a two-hundred day moving average price of $49.28. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 32.80 and a beta of 0.87. First Financial Bankshares, Inc. has a twelve month low of $37.50 and a twelve month high of $55.00.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Wednesday, October 20th. The bank reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. The firm had revenue of $137.18 million during the quarter, compared to the consensus estimate of $128.97 million. First Financial Bankshares had a return on equity of 13.57% and a net margin of 44.72%. On average, equities analysts forecast that First Financial Bankshares, Inc. will post 1.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Thursday, December 16th were paid a $0.15 dividend. The ex-dividend date was Wednesday, December 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. First Financial Bankshares’s dividend payout ratio is 37.27%.

First Financial Bankshares Profile

First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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