Alps Advisors Inc. Buys New Shares in First Financial Bankshares Inc (NASDAQ:FFIN)

Alps Advisors Inc. bought a new stake in shares of First Financial Bankshares Inc (NASDAQ:FFIN) during the 3rd quarter, Holdings Channel reports. The firm bought 10,995 shares of the bank’s stock, valued at approximately $366,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of First Financial Bankshares by 114.5% in the third quarter. First Trust Advisors LP now owns 243,231 shares of the bank’s stock valued at $8,107,000 after acquiring an additional 129,843 shares in the last quarter. Bartlett & Co. LLC purchased a new position in shares of First Financial Bankshares in the third quarter valued at about $259,000. Mutual Advisors LLC lifted its position in shares of First Financial Bankshares by 1.5% in the third quarter. Mutual Advisors LLC now owns 20,196 shares of the bank’s stock valued at $673,000 after acquiring an additional 300 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of First Financial Bankshares by 9.3% in the third quarter. Russell Investments Group Ltd. now owns 36,642 shares of the bank’s stock valued at $1,221,000 after acquiring an additional 3,108 shares in the last quarter. Finally, BB&T Corp purchased a new position in shares of First Financial Bankshares in the third quarter valued at about $250,000. Institutional investors own 51.62% of the company’s stock.

NASDAQ:FFIN opened at $34.52 on Friday. The company has a market capitalization of $4.72 billion, a P/E ratio of 31.67 and a beta of 1.15. First Financial Bankshares Inc has a 12 month low of $26.73 and a 12 month high of $35.86. The business’s 50-day moving average is $33.94 and its 200 day moving average is $37.35.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 17th. The bank reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $102.88 million for the quarter, compared to the consensus estimate of $102.20 million. First Financial Bankshares had a return on equity of 14.40% and a net margin of 38.59%. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts predict that First Financial Bankshares Inc will post 1.21 earnings per share for the current year.

In other news, Director Michael B. Denny bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $34.77 per share, for a total transaction of $52,155.00. Following the completion of the transaction, the director now owns 1,974 shares of the company’s stock, valued at $68,635.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 2,260 shares of company stock worth $78,890 over the last quarter. 4.90% of the stock is owned by company insiders.

Several brokerages have recently commented on FFIN. BidaskClub downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. ValuEngine downgraded First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Stephens set a $33.00 price objective on First Financial Bankshares and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Piper Jaffray Companies set a $29.00 target price on First Financial Bankshares and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

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

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