Strategic Financial Concepts LLC Raises Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Strategic Financial Concepts LLC lifted its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3,508.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,807,834 shares of the bank’s stock after buying an additional 2,730,017 shares during the period. Strategic Financial Concepts LLC’s holdings in First Financial Bankshares were worth $101,222,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in First Financial Bankshares by 15.8% in the 2nd quarter. AQR Capital Management LLC now owns 17,468 shares of the bank’s stock worth $511,000 after acquiring an additional 2,379 shares during the last quarter. Millennium Management LLC raised its stake in shares of First Financial Bankshares by 1.0% in the second quarter. Millennium Management LLC now owns 176,774 shares of the bank’s stock worth $5,220,000 after purchasing an additional 1,826 shares during the last quarter. CWM LLC raised its stake in shares of First Financial Bankshares by 747.0% in the third quarter. CWM LLC now owns 45,575 shares of the bank’s stock worth $1,687,000 after purchasing an additional 40,194 shares during the last quarter. Creative Planning lifted its holdings in shares of First Financial Bankshares by 15.2% during the third quarter. Creative Planning now owns 50,574 shares of the bank’s stock valued at $1,872,000 after purchasing an additional 6,670 shares in the last quarter. Finally, CFM Wealth Partners LLC boosted its position in shares of First Financial Bankshares by 9.3% during the third quarter. CFM Wealth Partners LLC now owns 190,943 shares of the bank’s stock valued at $7,067,000 after buying an additional 16,194 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FFIN. Hovde Group upped their target price on shares of 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 increased their price objective on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

Insider Transactions at First Financial Bankshares

In related news, CEO F Scott Dueser sold 25,000 shares of the 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 sale, the chief executive officer now directly owns 471,004 shares of the company’s stock, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.22% of the stock is currently owned by company insiders.

First Financial Bankshares Stock Up 0.4 %

First Financial Bankshares stock opened at $38.49 on Friday. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The company has a market cap of $5.50 billion, a P/E ratio of 24.67 and a beta of 0.83. The business has a 50-day simple moving average of $37.87 and a two-hundred day simple moving average of $37.57.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Research analysts anticipate that First Financial Bankshares, Inc. will post 1.72 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares’s payout ratio is 46.15%.

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.