Core Capital Management & Research inc. Takes $1.38 Million Position in First Financial Bankshares, Inc. $FFIN

Core Capital Management & Research inc. purchased a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the second quarter, Holdings Channel reports. The institutional investor purchased 40,450 shares of the bank’s stock, valued at approximately $1,381,000.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in First Financial Bankshares by 10.8% during the 1st quarter. Royal Bank of Canada now owns 64,287 shares of the bank’s stock worth $2,309,000 after acquiring an additional 6,290 shares during the period. AQR Capital Management LLC increased its holdings in shares of First Financial Bankshares by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 118,437 shares of the bank’s stock valued at $4,228,000 after purchasing an additional 40,173 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Financial Bankshares by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank’s stock valued at $2,783,000 after purchasing an additional 3,382 shares during the period. Empowered Funds LLC purchased a new stake in shares of First Financial Bankshares in the first quarter worth approximately $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of First Financial Bankshares by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank’s stock worth $14,243,000 after purchasing an additional 59,416 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Benchmark initiated coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective on the stock. Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Finally, Piper Sandler started coverage on First Financial Bankshares in a research note on Thursday, August 27th. They issued a “neutral” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Financial Bankshares presently has an average rating of “Moderate Buy” and an average target price of $36.40.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny bought 3,000 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $34.66 per share, with a total value of $103,980.00. Following the completion of the transaction, the director directly owned 6,500 shares in the company, valued at $225,290. This trade represents a 85.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of First Financial Bankshares stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the sale, the chief accounting officer owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.80% of the stock is owned by corporate insiders.

First Financial Bankshares Stock Down 1.3%

Shares of NASDAQ:FFIN opened at $32.69 on Thursday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 17.48 and a beta of 0.81. The business has a 50 day moving average price of $34.44 and a 200 day moving average price of $32.67. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The company had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. During the same period in the previous year, the business posted $0.47 EPS. Analysts anticipate that First Financial Bankshares, Inc. will post 2.05 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, September 14th. First Financial Bankshares’s dividend payout ratio is presently 47.06%.

First Financial Bankshares 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.