BNP Paribas Financial Markets Boosts Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

BNP Paribas Financial Markets raised its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 37.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,214 shares of the bank’s stock after buying an additional 32,813 shares during the period. BNP Paribas Financial Markets’ holdings in First Financial Bankshares were worth $4,486,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of First Financial Bankshares in the 2nd quarter worth $41,000. Quarry LP purchased a new stake in First Financial Bankshares in the second quarter worth about $83,000. Huntington National Bank increased its position in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after buying an additional 577 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of First Financial Bankshares in the second quarter worth about $97,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of First Financial Bankshares during the 2nd quarter valued at about $118,000. 69.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FFIN. Stephens increased 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 report on Friday, October 18th. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Hovde Group lifted 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.

First Financial Bankshares Price Performance

Shares of FFIN opened at $40.85 on Wednesday. First Financial Bankshares, Inc. has a 1 year low of $26.54 and a 1 year high of $44.66. The company has a 50 day simple moving average of $38.76 and a two-hundred day simple moving average of $35.10. The firm has a market cap of $5.84 billion, a P/E ratio of 28.17 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $142.10 million for 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%. On average, 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 company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.22% of the stock is owned by corporate insiders.

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.