JPMorgan Chase & Co. Has $15.90 Million Stake in First Financial Bankshares, Inc. $FFIN

JPMorgan Chase & Co. increased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 40.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,557 shares of the bank’s stock after purchasing an additional 135,804 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of First Financial Bankshares worth $15,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FFIN. State of New Jersey Common Pension Fund D increased its position in First Financial Bankshares by 7.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,465 shares of the bank’s stock worth $2,001,000 after buying an additional 4,231 shares during the period. Ameritas Advisory Services LLC grew its stake in shares of First Financial Bankshares by 5,474.7% in the third quarter. Ameritas Advisory Services LLC now owns 16,724 shares of the bank’s stock valued at $563,000 after acquiring an additional 16,424 shares in the last quarter. MQS Management LLC bought a new position in First Financial Bankshares during the third quarter worth about $325,000. ProShare Advisors LLC raised its stake in First Financial Bankshares by 71.5% in the 3rd quarter. ProShare Advisors LLC now owns 57,112 shares of the bank’s stock worth $1,922,000 after purchasing an additional 23,802 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Financial Bankshares by 24.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,064 shares of the bank’s stock worth $70,000 after purchasing an additional 403 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First Financial Bankshares currently has a consensus rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares Stock Down 1.7%

Shares of First Financial Bankshares stock opened at $30.34 on Wednesday. The firm’s 50-day moving average price is $32.22 and its two-hundred day moving average price is $32.78. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 17.14 and a beta of 0.83. First Financial Bankshares, Inc. has a 12-month low of $29.43 and a 12-month high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $164.72 million for the quarter, compared to analyst estimates of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. During the same quarter last year, the business posted $0.43 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. First Financial Bankshares’s payout ratio is 42.94%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Geoff Haney acquired 10,200 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average cost of $33.18 per share, for a total transaction of $338,436.00. Following the transaction, the director directly owned 32,146 shares in the company, valued at $1,066,604.28. This represents a 46.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders acquired 11,329 shares of company stock worth $375,994. 3.96% of the stock is owned by corporate insiders.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.