Kingsview Wealth Management LLC Grows Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Kingsview Wealth Management LLC raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,649 shares of the bank’s stock after acquiring an additional 312 shares during the period. Kingsview Wealth Management LLC’s holdings in First Financial Bankshares were worth $961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock valued at $231,381,000 after purchasing an additional 281,166 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of First Financial Bankshares by 6.8% during the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after purchasing an additional 223,640 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Financial Bankshares by 8.0% during the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank’s stock valued at $124,446,000 after purchasing an additional 249,011 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of First Financial Bankshares by 3,508.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock valued at $101,222,000 after purchasing an additional 2,730,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of First Financial Bankshares by 3.8% during the third 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 in the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Stock Performance

FFIN stock opened at $38.12 on Wednesday. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66. The business’s 50-day moving average is $37.64 and its two-hundred day moving average is $37.58. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 24.44 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. Equities analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 46.15%.

Insider Transactions at First Financial Bankshares

In other news, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.73, for a total value of $1,018,250.00. Following the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at $19,183,992.92. This trade represents a 5.04 % 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. Corporate insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FFIN shares. Hovde Group upped their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Stephens increased their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th.

About First Financial Bankshares

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.