Royce & Associates LP Buys 38,474 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Royce & Associates LP grew its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,017 shares of the bank’s stock after acquiring an additional 38,474 shares during the period. Royce & Associates LP owned 0.09% of First Financial Bankshares worth $4,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Olistico Wealth LLC bought a new position in First Financial Bankshares in the second quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new stake in shares of First Financial Bankshares in the 2nd quarter worth $41,000. Huntington National Bank grew its position in shares of First Financial Bankshares by 32.2% during the 3rd 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. Quarry LP purchased a new position in shares of First Financial Bankshares during the second quarter valued at $83,000. Finally, Point72 DIFC Ltd bought a new stake in shares of First Financial Bankshares in the second quarter valued at about $97,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $41.25 on Tuesday. The stock has a market capitalization of $5.90 billion, a P/E ratio of 28.45 and a beta of 0.78. The company’s 50-day simple moving average is $37.76 and its 200-day simple moving average is $34.28. First Financial Bankshares, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last announced its 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 company had revenue of $142.10 million during 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, research 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 announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now owns 101,085 shares in the company, 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 SEC, which can be accessed through the SEC website. 4.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FFIN has been the topic of a number of research reports. Stephens raised their target price 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. Truist Financial boosted 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 upped their target price on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st.

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.