Stifel Financial Corp Grows Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Stifel Financial Corp raised its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,321 shares of the bank’s stock after buying an additional 974 shares during the quarter. Stifel Financial Corp owned about 0.14% of First Financial Bankshares worth $7,340,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its holdings in First Financial Bankshares by 6.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after buying an additional 223,640 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of First Financial Bankshares by 3,632.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after purchasing an additional 2,912,718 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Financial Bankshares by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after purchasing an additional 130,361 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Financial Bankshares by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank’s stock valued at $62,961,000 after purchasing an additional 62,538 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $40.47 on Friday. First Financial Bankshares, Inc. has a 52-week low of $27.06 and a 52-week high of $44.66. The firm has a market capitalization of $5.78 billion, a P/E ratio of 27.91 and a beta of 0.81. The stock has a 50 day moving average price of $39.38 and a 200 day moving average price of $35.54.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The firm had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. As a group, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Stephens raised their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods raised their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group raised their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. The trade was a 6.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares Company 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.