Hsbc Holdings PLC Buys 35,425 Shares of First Financial Bankshares Inc (FFIN)

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Hsbc Holdings PLC lifted its stake in First Financial Bankshares Inc (NASDAQ:FFIN) by 950.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,153 shares of the bank’s stock after purchasing an additional 35,425 shares during the period. Hsbc Holdings PLC’s holdings in First Financial Bankshares were worth $2,250,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in First Financial Bankshares by 3.6% during the third quarter. BlackRock Inc. now owns 9,775,130 shares of the bank’s stock worth $577,710,000 after purchasing an additional 342,394 shares during the period. Vanguard Group Inc. grew its holdings in First Financial Bankshares by 2.1% during the third quarter. Vanguard Group Inc. now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after purchasing an additional 138,088 shares during the period. Vanguard Group Inc grew its holdings in First Financial Bankshares by 2.1% during the third quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after purchasing an additional 138,088 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in First Financial Bankshares by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,795 shares of the bank’s stock worth $90,274,000 after purchasing an additional 42,710 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new position in First Financial Bankshares during the fourth quarter worth about $26,000. 54.45% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Johnny Trotter acquired 5,000 shares of First Financial Bankshares stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $60.49 per share, for a total transaction of $302,450.00. Following the completion of the acquisition, the director now directly owns 389,926 shares in the company, valued at approximately $23,586,623.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.90% of the company’s stock.

A number of research firms recently commented on FFIN. BidaskClub cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research cut First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Finally, Stephens set a $57.00 price target on First Financial Bankshares and gave the stock a “hold” rating in a report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.67.

First Financial Bankshares stock opened at $58.02 on Wednesday. First Financial Bankshares Inc has a 52 week low of $45.05 and a 52 week high of $66.83. The stock has a market cap of $4.18 billion, a P/E ratio of 26.61 and a beta of 1.16.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. First Financial Bankshares had a return on equity of 14.74% and a net margin of 38.29%. The company had revenue of $97.07 million during the quarter, compared to analysts’ expectations of $97.87 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, analysts forecast that First Financial Bankshares Inc will post 2.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, March 14th. First Financial Bankshares’s dividend payout ratio is presently 38.53%.

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First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

Further Reading: Dividend

Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares Inc (NASDAQ:FFIN).

Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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