First Financial Bankshares, Inc. $FFIN Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.2% during the second quarter, Holdings Channel.com reports. The firm owned 48,963 shares of the bank’s stock after purchasing an additional 2,414 shares during the period. Bessemer Group Inc.’s holdings in First Financial Bankshares were worth $1,762,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FFIN. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of First Financial Bankshares during the 1st quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in First Financial Bankshares by 47.5% during the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock worth $45,000 after buying an additional 404 shares during the period. Quarry LP increased its position in shares of First Financial Bankshares by 336.9% during the first quarter. Quarry LP now owns 1,573 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,213 shares during the last quarter. Assetmark Inc. raised its stake in shares of First Financial Bankshares by 76.5% in the 1st quarter. Assetmark Inc. now owns 1,629 shares of the bank’s stock valued at $59,000 after acquiring an additional 706 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of First Financial Bankshares by 33.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock worth $60,000 after acquiring an additional 412 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Up 0.2%

NASDAQ:FFIN opened at $30.70 on Friday. First Financial Bankshares, Inc. has a 52 week low of $30.50 and a 52 week high of $44.66. The company has a fifty day simple moving average of $34.35 and a two-hundred day simple moving average of $35.01. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 18.17 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The company had revenue of $162.06 million during the quarter, compared to analyst estimates of $161.21 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

Insider Transactions at First Financial Bankshares

In related news, CFO Michelle S. Hickox acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was acquired at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the purchase, the chief financial officer owned 24,461 shares of the company’s stock, valued at $761,960.15. This represents a 8.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FFIN. Cantor Fitzgerald assumed coverage on shares of First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. Finally, Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, First Financial Bankshares currently has an average rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares 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.