Geode Capital Management LLC Acquires 249,011 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Geode Capital Management LLC boosted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,361,921 shares of the bank’s stock after buying an additional 249,011 shares during the period. Geode Capital Management LLC’s holdings in First Financial Bankshares were worth $124,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of First Financial Bankshares by 6.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,537 shares of the bank’s stock worth $518,000 after purchasing an additional 1,050 shares during the last quarter. Raymond James & Associates lifted its position in shares of First Financial Bankshares by 17.4% during the second quarter. Raymond James & Associates now owns 78,896 shares of the bank’s stock valued at $2,330,000 after buying an additional 11,701 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of First Financial Bankshares by 52.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 42,154 shares of the bank’s stock valued at $1,252,000 after buying an additional 14,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of First Financial Bankshares by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock worth $40,629,000 after buying an additional 15,473 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its stake in shares of First Financial Bankshares by 2.0% during the 2nd quarter. Rosenthal Henry Capital Advisors Inc. now owns 75,700 shares of the bank’s stock worth $2,235,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FFIN shares. Hovde Group increased 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 report on Monday, October 21st. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens upped their target price on 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 raised their price target on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Insiders Place Their Bets

In other news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the sale, the director now owns 101,085 shares in the company, valued at $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Scott Dueser sold 25,000 shares of First Financial Bankshares 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 transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Trading Down 4.1 %

NASDAQ:FFIN opened at $39.20 on Wednesday. The firm has a fifty day simple moving average of $39.64 and a 200-day simple moving average of $35.84. First Financial Bankshares, Inc. has a 12 month low of $27.06 and a 12 month high of $44.66. The company has a market capitalization of $5.60 billion, a P/E ratio of 27.03 and a beta of 0.81.

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

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 1.84%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

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.