Sei Investments Co. Boosts Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Sei Investments Co. raised its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 140.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,496 shares of the bank’s stock after purchasing an additional 19,586 shares during the period. Sei Investments Co.’s holdings in First Financial Bankshares were worth $896,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FFIN. Clear Harbor Asset Management LLC acquired a new stake in shares of First Financial Bankshares in the 3rd quarter valued at about $45,000. FCA Corp TX acquired a new stake in shares of First Financial Bankshares in the 3rd quarter valued at about $126,000. Macquarie Group Ltd. raised its stake in shares of First Financial Bankshares by 158.6% in the 2nd quarter. Macquarie Group Ltd. now owns 4,748 shares of the bank’s stock valued at $137,000 after purchasing an additional 2,912 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of First Financial Bankshares by 158.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,200 shares of the bank’s stock valued at $173,000 after purchasing an additional 3,800 shares in the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new stake in shares of First Financial Bankshares in the 2nd quarter valued at about $252,000. Institutional investors and hedge funds own 44.37% of the company’s stock.

Shares of NASDAQ:FFIN opened at $36.18 on Friday. The firm’s 50 day moving average is $34.80 and its two-hundred day moving average is $31.07. First Financial Bankshares, Inc. has a 52 week low of $20.70 and a 52 week high of $36.43. The firm has a market capitalization of $5.14 billion, a P/E ratio of 27.61 and a beta of 0.99.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. First Financial Bankshares had a net margin of 38.10% and a return on equity of 12.42%. The company had revenue of $130.96 million for the quarter, compared to analyst estimates of $112.71 million. During the same quarter last year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.39 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of First Financial Bankshares from $25.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, October 26th. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Tuesday, November 3rd. ValuEngine upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Tuesday, December 1st. Finally, BidaskClub upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.25.

In related news, Director Johnny Trotter acquired 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was acquired at an average cost of $29.74 per share, for a total transaction of $118,960.00. Also, Director David L. Copeland sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $35.21, for a total transaction of $704,200.00. 4.44% of the stock is currently owned by company insiders.

First Financial Bankshares Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services 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.

Further Reading: Momentum Investing

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

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