Federated Hermes Inc. Acquires 20,079 Shares of First Financial Bankshares, Inc. $FFIN

Federated Hermes Inc. raised its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,633 shares of the bank’s stock after acquiring an additional 20,079 shares during the period. Federated Hermes Inc.’s holdings in First Financial Bankshares were worth $6,280,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of First Financial Bankshares by 14.0% during the third quarter. Covestor Ltd now owns 3,255 shares of the bank’s stock worth $110,000 after purchasing an additional 399 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in First Financial Bankshares by 32.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock worth $60,000 after buying an additional 406 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of First Financial Bankshares by 33.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock worth $60,000 after buying an additional 412 shares during the last quarter. Captrust Financial Advisors raised its position in shares of First Financial Bankshares by 7.1% during the 2nd quarter. Captrust Financial Advisors now owns 6,244 shares of the bank’s stock valued at $225,000 after buying an additional 413 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of First Financial Bankshares by 1.0% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 46,811 shares of the bank’s stock worth $1,684,000 after acquiring an additional 447 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 1.9%

Shares of NASDAQ:FFIN opened at $32.41 on Tuesday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 18.31 and a beta of 0.86. The stock’s 50-day moving average price is $31.50 and its 200-day moving average price is $33.14. First Financial Bankshares, Inc. has a 12-month low of $29.43 and a 12-month high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The company had revenue of $164.72 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the prior year, the business posted $0.43 EPS. First Financial Bankshares’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on FFIN shares. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research report on Monday, October 27th. Keefe, Bruyette & Woods reduced their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.00.

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.