Algert Global LLC Buys 11,015 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Algert Global LLC lifted its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 68.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,994 shares of the bank’s stock after acquiring an additional 11,015 shares during the period. Algert Global LLC’s holdings in First Financial Bankshares were worth $973,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. acquired a new stake in shares of First Financial Bankshares in the 4th quarter worth $33,000. R Squared Ltd acquired a new position in shares of First Financial Bankshares during the fourth quarter valued at about $88,000. Harvest Fund Management Co. Ltd raised its position in shares of First Financial Bankshares by 1,497.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock valued at $118,000 after purchasing an additional 3,039 shares during the last quarter. KBC Group NV boosted its stake in First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, US Bancorp DE grew its position in First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after purchasing an additional 370 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FFIN. Hovde Group dropped their price objective on shares of 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. Keefe, Bruyette & Woods cut their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Monday, April 21st.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $34.67 on Friday. The business’s 50-day moving average is $34.28 and its two-hundred day moving average is $36.91. The company has a market capitalization of $4.96 billion, a P/E ratio of 22.22 and a beta of 0.89. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting 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. Analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. First Financial Bankshares’s dividend payout ratio is 46.91%.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter bought 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the purchase, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. The trade was a 0.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have bought 7,099 shares of company stock worth $247,751. 4.22% of the stock is owned by company 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.