Excelsior Advisor Network LLC Invests $6.90 Million in First Financial Bankshares, Inc. $FFIN

Excelsior Advisor Network LLC acquired a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 234,392 shares of the bank’s stock, valued at approximately $6,903,000. First Financial Bankshares comprises 2.6% of Excelsior Advisor Network LLC’s holdings, making the stock its 4th largest position. Excelsior Advisor Network LLC owned about 0.16% of First Financial Bankshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after acquiring an additional 21,511,608 shares during the period. Norges Bank purchased a new position in shares of First Financial Bankshares during the 4th quarter worth $51,227,000. Millennium Management LLC lifted its stake in shares of First Financial Bankshares by 4,145.8% during the 4th quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock worth $51,067,000 after purchasing an additional 1,669,365 shares during the period. Invesco Ltd. boosted its holdings in shares of First Financial Bankshares by 170.9% during 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. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of First Financial Bankshares by 460.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank’s stock worth $15,032,000 after purchasing an additional 413,376 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Activity at First Financial Bankshares

In other news, Director Murray Hamilton Edwards bought 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the director owned 44,634 shares in the company, valued at approximately $1,480,956.12. This trade represents a 2.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FFIN. Cantor Fitzgerald reiterated a “neutral” rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Benchmark initiated coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Financial Bankshares has an average rating of “Moderate Buy” and an average price target of $36.75.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $34.44 on Tuesday. The business’s 50-day simple moving average is $33.70 and its 200 day simple moving average is $32.34. The company has a market cap of $4.93 billion, a P/E ratio of 18.42 and a beta of 0.81. First Financial Bankshares, Inc. has a one year low of $28.11 and a one year high of $38.12.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million during the quarter, compared to analysts’ expectations of $173.03 million. During the same quarter in the prior year, the business earned $0.47 EPS. Analysts predict that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Company Profile

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.