Bridge City Capital LLC Reduces Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bridge City Capital LLC decreased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,463 shares of the bank’s stock after selling 710 shares during the quarter. Bridge City Capital LLC owned about 0.07% of First Financial Bankshares worth $3,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of First Financial Bankshares in the 4th quarter worth $47,757,000. Axiom Investors LLC DE purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $16,937,000. Raymond James Financial Inc. acquired a new stake in First Financial Bankshares during the fourth quarter worth about $8,341,000. JPMorgan Chase & Co. raised its stake in First Financial Bankshares by 48.9% during the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock worth $24,777,000 after purchasing an additional 225,574 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in First Financial Bankshares by 1,719.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank’s stock valued at $7,552,000 after purchasing an additional 197,986 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Johnny Trotter bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the purchase, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 7,399 shares of company stock worth $258,266 over the last three months. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $36.56 on Monday. The company has a market capitalization of $5.23 billion, a PE ratio of 23.44 and a beta of 0.87. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66. The firm has a 50 day moving average price of $34.09 and a 200 day moving average price of $36.34.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $149.02 million during the quarter, compared to analyst estimates of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $0.19 dividend. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.08%. The ex-dividend date is Monday, June 16th. First Financial Bankshares’s payout ratio is currently 46.91%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FFIN. Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Hovde Group lowered their price target on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Monday, April 21st.

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.