NFJ Investment Group LLC Decreases Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

NFJ Investment Group LLC trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 605,756 shares of the bank’s stock after selling 24,751 shares during the period. NFJ Investment Group LLC owned about 0.42% of First Financial Bankshares worth $22,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FFIN. Strategic Financial Concepts LLC boosted its holdings in First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after acquiring an additional 2,912,718 shares during the period. Champlain Investment Partners LLC increased its stake in shares of First Financial Bankshares by 6.8% in the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock worth $130,139,000 after buying an additional 223,640 shares during the period. Emerald Advisers LLC bought a new stake in First Financial Bankshares during the 3rd quarter valued at $8,235,000. Cubist Systematic Strategies LLC increased its position in shares of First Financial Bankshares by 10,296.3% in the second quarter. Cubist Systematic Strategies LLC now owns 189,732 shares of the bank’s stock valued at $5,603,000 after acquiring an additional 187,907 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of First Financial Bankshares by 37.5% during the third quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock valued at $22,701,000 after acquiring an additional 167,433 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Stock Down 0.2 %

Shares of NASDAQ:FFIN traded down $0.08 during trading on Tuesday, hitting $41.29. The stock had a trading volume of 14,426 shares, compared to its average volume of 536,401. The company has a market capitalization of $5.90 billion, a PE ratio of 28.53 and a beta of 0.81. The firm’s fifty day moving average is $38.69 and its 200 day moving average is $35.04. First Financial Bankshares, Inc. has a 12 month low of $26.54 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stephens raised their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Truist Financial lifted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Hovde Group raised their price target on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st.

First Financial Bankshares Company 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.