Geode Capital Management LLC raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,650 shares of the bank’s stock after buying an additional 32,151 shares during the period. Geode Capital Management LLC owned about 0.81% of First Financial Bankshares worth $21,238,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Comerica Bank increased its stake in shares of First Financial Bankshares by 4.1% in the first quarter. Comerica Bank now owns 73,355 shares of the bank’s stock worth $3,004,000 after buying an additional 2,922 shares during the period. Bank of New York Mellon Corp increased its stake in shares of First Financial Bankshares by 34.9% in the first quarter. Bank of New York Mellon Corp now owns 1,127,767 shares of the bank’s stock worth $45,222,000 after buying an additional 291,772 shares during the period. First Trust Advisors LP increased its stake in shares of First Financial Bankshares by 12.0% in the first quarter. First Trust Advisors LP now owns 184,492 shares of the bank’s stock worth $7,398,000 after buying an additional 19,744 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of First Financial Bankshares by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 90,773 shares of the bank’s stock worth $3,635,000 after buying an additional 5,557 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of First Financial Bankshares by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 7,330 shares of the bank’s stock worth $293,000 after buying an additional 140 shares during the period. 49.89% of the stock is owned by institutional investors.

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) traded down 1.39% during midday trading on Monday, reaching $42.50. The company’s stock had a trading volume of 149,579 shares. The stock has a 50 day moving average of $42.84 and a 200-day moving average of $41.48. The company has a market capitalization of $2.79 billion, a P/E ratio of 26.20 and a beta of 1.34. First Financial Bankshares, Inc. has a 1-year low of $33.41 and a 1-year high of $46.70.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The company had revenue of $82.25 million for the quarter, compared to analyst estimates of $87.11 million. During the same quarter last year, the business earned $0.41 earnings per share. First Financial Bankshares’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post $1.70 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.19 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.79%. First Financial Bankshares’s payout ratio is currently 46.91%.

First Financial Bankshares announced that its Board of Directors has authorized a share buyback program on Tuesday, July 25th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of research firms have recently commented on FFIN. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, July 26th. Stephens set a $39.00 target price on First Financial Bankshares and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $41.00 target price on shares of First Financial Bankshares in a research report on Friday, July 21st. BidaskClub cut First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods upgraded First Financial Bankshares from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $37.00 to $38.00 in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. First Financial Bankshares has a consensus rating of “Hold” and a consensus target price of $42.00.

In other First Financial Bankshares news, Director David L. Copeland sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $38.00, for a total value of $25,992.00. Following the sale, the director now owns 33,379 shares in the company, valued at $1,268,402. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johnny Trotter purchased 1,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average price of $38.55 per share, for a total transaction of $38,550.00. Following the purchase, the director now directly owns 388,938 shares of the company’s stock, valued at approximately $14,993,559.90. The disclosure for this purchase can be found here. Insiders acquired 1,730 shares of company stock worth $67,009 in the last 90 days. 5.40% of the stock is owned by company insiders.

About First Financial Bankshares

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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

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