MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,092 shares of the bank’s stock after purchasing an additional 2,894 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of First Financial Bankshares worth $2,671,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC boosted its position in First Financial Bankshares by 3,508.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock worth $101,222,000 after acquiring an additional 2,730,017 shares during the last quarter. Norges Bank purchased a new position in First Financial Bankshares in the 4th quarter worth approximately $47,757,000. Axiom Investors LLC DE acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $16,937,000. Raymond James Financial Inc. acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $8,341,000. Finally, JPMorgan Chase & Co. grew its position in shares of First Financial Bankshares by 48.9% in the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock valued at $24,777,000 after purchasing an additional 225,574 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

Shares of NASDAQ FFIN opened at $35.74 on Wednesday. The company has a market capitalization of $5.11 billion, a P/E ratio of 22.91 and a beta of 0.89. The company has a 50 day simple moving average of $34.31 and a 200-day simple moving average of $36.88. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66.

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

First Financial Bankshares Increases Dividend

The business 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. The ex-dividend date is Monday, June 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio is presently 46.91%.

Insiders Place Their Bets

In related news, Director Johnny Trotter acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the acquisition, the director now owns 949,371 shares in the company, valued at $33,341,909.52. The trade was a 0.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 7,099 shares of company stock valued at $247,751 over the last 90 days. 4.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FFIN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Hovde Group reduced their price target on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Monday, April 21st.

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.