JPMorgan Chase & Co. Acquires 131,063 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

JPMorgan Chase & Co. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 39.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 461,726 shares of the bank’s stock after purchasing an additional 131,063 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Financial Bankshares were worth $17,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Huntington National Bank increased its position in First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after acquiring an additional 577 shares in the last quarter. Quarry LP acquired a new position in First Financial Bankshares during the 2nd quarter worth $83,000. Point72 DIFC Ltd bought a new position in First Financial Bankshares in the 2nd quarter valued at $97,000. Point72 Asset Management L.P. acquired a new stake in shares of First Financial Bankshares in the 2nd quarter valued at $118,000. Finally, US Bancorp DE raised its position in shares of First Financial Bankshares by 50.9% during the third quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock worth $186,000 after acquiring an additional 1,696 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 1.1 %

Shares of FFIN opened at $36.01 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of 24.83 and a beta of 0.81. The stock’s 50-day moving average price is $39.33 and its two-hundred day moving average price is $36.66. First Financial Bankshares, Inc. has a 1 year low of $27.06 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on FFIN shares. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group raised 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 boosted their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Scott Dueser sold 25,000 shares of First Financial Bankshares stock in a transaction dated 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 in the company, valued at $19,183,992.92. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.22% of the company’s stock.

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.