PNC Financial Services Group Inc. boosted its position in First Financial Bankshares Inc (NASDAQ:FFIN) by 3,534.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,421 shares of the bank’s stock after purchasing an additional 78,208 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of First Financial Bankshares worth $4,648,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund bought a new position in shares of First Financial Bankshares in the fourth quarter worth about $26,000. Quadrant Capital Group LLC raised its stake in First Financial Bankshares by 767.3% during the 1st quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock valued at $26,000 after purchasing an additional 399 shares during the period. Quantamental Technologies LLC bought a new stake in First Financial Bankshares during the 4th quarter valued at approximately $29,000. Liberty Wealth Management LLC bought a new stake in First Financial Bankshares during the 4th quarter valued at approximately $36,000. Finally, Ellis Investment Partners LLC bought a new stake in First Financial Bankshares during the 1st quarter valued at approximately $117,000. Institutional investors and hedge funds own 55.53% of the company’s stock.
In related news, Director Johnny Trotter purchased 3,000 shares of First Financial Bankshares stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average cost of $61.61 per share, with a total value of $184,830.00. Following the transaction, the director now owns 394,913 shares in the company, valued at approximately $24,330,589.93. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Copeland sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the completion of the transaction, the director now directly owns 34,094 shares of the company’s stock, valued at $2,102,917.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 10,511 shares of company stock valued at $643,239. 4.90% of the stock is currently owned by corporate insiders.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. The company had revenue of $95.77 million during the quarter, compared to analysts’ expectations of $96.90 million. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. During the same quarter in the previous year, the business earned $0.26 EPS. Equities research analysts expect that First Financial Bankshares Inc will post 1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.04%.
Several research firms have weighed in on FFIN. BidaskClub cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, Stephens restated a “neutral” rating and set a $28.50 price target on shares of First Financial Bankshares in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.33.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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