Strategic Financial Concepts LLC Purchases 2,730,017 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Strategic Financial Concepts LLC raised its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3,508.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,807,834 shares of the bank’s stock after purchasing an additional 2,730,017 shares during the period. Strategic Financial Concepts LLC owned approximately 1.96% of First Financial Bankshares worth $101,222,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC increased its position in shares of First Financial Bankshares by 11.4% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 9,755 shares of the bank’s stock valued at $352,000 after purchasing an additional 1,000 shares during the last quarter. Sylvest Advisors LLC bought a new position in First Financial Bankshares during the fourth quarter valued at approximately $436,000. R Squared Ltd bought a new position in First Financial Bankshares during the fourth quarter valued at approximately $88,000. Pacer Advisors Inc. raised its stake in shares of First Financial Bankshares by 2.3% during the fourth quarter. Pacer Advisors Inc. now owns 19,170 shares of the bank’s stock worth $691,000 after acquiring an additional 432 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after acquiring an additional 1,819 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

Insider Activity

In related news, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at $19,183,992.92. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on FFIN shares. Stephens increased their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price target on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Hovde Group lifted their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $38.49 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of 24.67 and a beta of 0.83. The business’s 50 day moving average price is $37.87 and its 200-day moving average price is $37.57. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. As a group, equities analysts predict that First Financial Bankshares, Inc. will post 1.72 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.87%. First Financial Bankshares’s payout ratio is 46.15%.

First Financial Bankshares Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.