JPMorgan Chase & Co. Purchases 135,804 Shares of First Financial Bankshares, Inc. $FFIN

JPMorgan Chase & Co. grew its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 40.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 472,557 shares of the bank’s stock after acquiring an additional 135,804 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Financial Bankshares were worth $15,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new stake in shares of First Financial Bankshares in the third quarter worth $25,000. Corsicana & Co. bought a new position in First Financial Bankshares in the third quarter valued at $27,000. Quarry LP increased its stake in First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after buying an additional 409 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $50,000. Finally, State of Wyoming bought a new stake in First Financial Bankshares during the 2nd quarter worth about $54,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares Stock Up 0.5%

NASDAQ:FFIN opened at $29.53 on Friday. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $38.74. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 16.68 and a beta of 0.83. The stock’s 50 day moving average price is $31.73 and its two-hundred day moving average price is $31.98.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The company had revenue of $164.72 million during the quarter, compared to the consensus estimate of $165.70 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. First Financial Bankshares’s dividend payout ratio is 42.94%.

Insider Transactions at First Financial Bankshares

In other news, Director Geoff Haney purchased 1,500 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $29.18 per share, for a total transaction of $43,770.00. Following the completion of the purchase, the director directly owned 33,646 shares in the company, valued at $981,790.28. The trade was a 4.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sally Pope Davis acquired 1,800 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $29.52 per share, with a total value of $53,136.00. Following the transaction, the director owned 10,371 shares in the company, valued at approximately $306,151.92. This trade represents a 21.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 21,629 shares of company stock valued at $681,060. 3.80% of the stock is owned by company insiders.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.