Tower Research Capital LLC TRC Raises Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Tower Research Capital LLC TRC boosted its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 164.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,944 shares of the bank’s stock after purchasing an additional 9,290 shares during the period. Tower Research Capital LLC TRC’s holdings in First Financial Bankshares were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC raised its stake in shares of First Financial Bankshares by 7.7% in the 4th quarter. MetLife Investment Management LLC now owns 148,742 shares of the bank’s stock valued at $5,362,000 after acquiring an additional 10,614 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Financial Bankshares by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank’s stock valued at $92,733,000 after acquiring an additional 42,280 shares during the period. First Trust Advisors LP increased its stake in First Financial Bankshares by 14.6% during the 4th quarter. First Trust Advisors LP now owns 256,253 shares of the bank’s stock worth $9,238,000 after buying an additional 32,690 shares during the period. Canada Pension Plan Investment Board purchased a new stake in First Financial Bankshares during the 4th quarter worth approximately $887,000. Finally, NewEdge Advisors LLC increased its stake in First Financial Bankshares by 5.8% during the 4th quarter. NewEdge Advisors LLC now owns 10,097 shares of the bank’s stock worth $364,000 after buying an additional 551 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FFIN. Keefe, Bruyette & Woods decreased their price target on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Hovde Group dropped their target price on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st.

Insider Transactions at First Financial Bankshares

In related news, Director Johnny Trotter purchased 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the transaction, the director now owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 7,041 shares of company stock valued at $247,992. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Price Performance

Shares of FFIN opened at $33.49 on Tuesday. The stock’s 50-day moving average is $34.81 and its two-hundred day moving average is $37.13. The stock has a market cap of $4.79 billion, a PE ratio of 21.47 and a beta of 0.82. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million for the quarter, compared to analysts’ expectations of $149.48 million. On average, research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

About First Financial Bankshares

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.