Tudor Investment Corp ET AL Invests $3.02 Million in First Financial Bankshares, Inc. $FFIN

Tudor Investment Corp ET AL purchased a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,870 shares of the bank’s stock, valued at approximately $3,024,000.

A number of other hedge funds have also recently made changes to their positions in FFIN. Invesco Ltd. grew its holdings in shares of First Financial Bankshares by 170.9% in the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after purchasing an additional 694,534 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of First Financial Bankshares by 314.0% in the second quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock worth $17,640,000 after purchasing an additional 371,847 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of First Financial Bankshares by 31.8% in the third quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank’s stock worth $43,434,000 after purchasing an additional 311,628 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of First Financial Bankshares by 484.7% in the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank’s stock worth $9,038,000 after purchasing an additional 208,573 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of First Financial Bankshares by 1,571.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 156,321 shares of the bank’s stock worth $5,624,000 after purchasing an additional 146,971 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.33.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Murray Hamilton Edwards bought 1,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $29.32 per share, for a total transaction of $29,320.00. Following the acquisition, the director directly owned 43,634 shares in the company, valued at approximately $1,279,348.88. The trade was a 2.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Johnny Trotter purchased 4,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $30.02 per share, with a total value of $120,080.00. Following the completion of the transaction, the director owned 955,444 shares of the company’s stock, valued at approximately $28,682,428.88. The trade was a 0.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 21,629 shares of company stock worth $681,060 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $31.16 on Friday. First Financial Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $38.74. The firm’s 50-day moving average is $31.25 and its two-hundred day moving average is $31.57. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 17.60 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its 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. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The company had revenue of $164.72 million for the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the prior year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, March 13th. First Financial Bankshares’s dividend payout ratio is presently 42.94%.

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.