Core Capital Management & Research inc. Buys New Position in First Financial Bankshares, Inc. $FFIN

Core Capital Management & Research inc. bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 40,450 shares of the bank’s stock, valued at approximately $1,381,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in First Financial Bankshares during the 4th quarter valued at $44,000. CIBC Private Wealth Group LLC bought a new position in First Financial Bankshares during the 3rd quarter valued at $50,000. State of Wyoming acquired a new position in shares of First Financial Bankshares during the 2nd quarter valued at $54,000. Finally, Parallel Advisors LLC increased its position in shares of First Financial Bankshares by 83.5% during the 1st quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock valued at $56,000 after purchasing an additional 858 shares during the period. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $32.69 on Thursday. The company has a market capitalization of $4.69 billion, a PE ratio of 17.48 and a beta of 0.81. The stock has a fifty day moving average of $34.44 and a 200-day moving average of $32.67. First Financial Bankshares, Inc. has a one year low of $28.11 and a one year high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $173.03 million. During the same period in the previous year, the firm posted $0.47 EPS. As a group, research analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FFIN. Piper Sandler began coverage on First Financial Bankshares in a report on Thursday, August 27th. They issued a “neutral” rating and a $35.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued 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, August 3rd. Finally, Benchmark started coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Insider Activity

In other First Financial Bankshares news, CAO Ronald David Butler II sold 15,000 shares of the business’s stock in a transaction dated 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 approximately $5,320,193.85. The trade was a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Denny acquired 3,000 shares of First Financial Bankshares stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $34.66 per share, with a total value of $103,980.00. Following the completion of the purchase, the director directly owned 6,500 shares of the company’s stock, valued at approximately $225,290. This represents a 85.71% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.80% of the stock is currently owned by insiders.

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.