Sei Investments Co. Increases Holdings in First Financial Bankshares, Inc. $FFIN

Sei Investments Co. raised its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 60.0% in the first quarter, HoldingsChannel reports. The firm owned 112,380 shares of the bank’s stock after buying an additional 42,138 shares during the quarter. Sei Investments Co.’s holdings in First Financial Bankshares were worth $3,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Signaturefd LLC grew its position in shares of First Financial Bankshares by 6.2% in the fourth quarter. Signaturefd LLC now owns 5,863 shares of the bank’s stock valued at $175,000 after purchasing an additional 344 shares in the last quarter. Smart Money Group LLC lifted its position in First Financial Bankshares by 0.4% during the first quarter. Smart Money Group LLC now owns 80,245 shares of the bank’s stock worth $2,363,000 after buying an additional 354 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in First Financial Bankshares by 2.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock worth $393,000 after buying an additional 356 shares in the last quarter. Ballentine Partners LLC boosted its stake in First Financial Bankshares by 3.0% during the fourth quarter. Ballentine Partners LLC now owns 13,482 shares of the bank’s stock worth $403,000 after buying an additional 391 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in First Financial Bankshares by 32.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock worth $60,000 after buying an additional 406 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FFIN. Cantor Fitzgerald reiterated a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Benchmark initiated coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Insider Buying and Selling

In related news, Director Murray Hamilton Edwards bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the director directly owned 44,634 shares of the company’s stock, valued at $1,480,956.12. This represents a 2.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

First Financial Bankshares Stock Down 0.1%

FFIN stock opened at $34.67 on Friday. The business has a fifty day moving average of $34.21 and a two-hundred day moving average of $32.54. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 18.54 and a beta of 0.81. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $38.12.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting 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 business had revenue of $172.76 million for the quarter, compared to analyst estimates of $173.03 million. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, September 14th. First Financial Bankshares’s payout ratio is 47.06%.

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.