Holocene Advisors LP Buys 62,183 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Holocene Advisors LP raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 367.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 79,084 shares of the bank’s stock after buying an additional 62,183 shares during the period. Holocene Advisors LP owned about 0.06% of First Financial Bankshares worth $2,927,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FFIN. SG Americas Securities LLC boosted its holdings in First Financial Bankshares by 480.0% in the second quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock valued at $1,169,000 after acquiring an additional 32,774 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in First Financial Bankshares during the 2nd quarter valued at about $637,000. Bank of New York Mellon Corp boosted 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. Intech Investment Management LLC acquired a new stake in shares of First Financial Bankshares during the 3rd quarter worth approximately $673,000. Finally, Citigroup Inc. raised its stake in shares of First Financial Bankshares by 27.0% during the third quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock worth $9,273,000 after buying an additional 53,195 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial raised their price objective on shares of 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 target on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Hovde Group increased their target price 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 Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the firm’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 sale, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.22% of the stock is owned by insiders.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $40.94 on Friday. The company has a 50 day moving average price of $38.93 and a two-hundred day moving average price of $35.19. The company has a market capitalization of $5.85 billion, a PE ratio of 28.23 and a beta of 0.81. First Financial Bankshares, Inc. has a 52 week low of $26.54 and a 52 week high of $44.66.

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

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

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.