SG Americas Securities LLC Reduces Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

SG Americas Securities LLC cut its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 86.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,305 shares of the bank’s stock after selling 45,379 shares during the quarter. SG Americas Securities LLC’s holdings in First Financial Bankshares were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FFIN. Norges Bank acquired a new stake in First Financial Bankshares during the 4th quarter valued at $43,669,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of First Financial Bankshares by 19.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock valued at $112,076,000 after buying an additional 570,999 shares during the period. State Street Corp raised its holdings in First Financial Bankshares by 8.6% in the 2nd quarter. State Street Corp now owns 5,881,523 shares of the bank’s stock valued at $168,569,000 after acquiring an additional 468,161 shares during the last quarter. BlackRock Inc. raised its holdings in First Financial Bankshares by 2.3% in the 2nd quarter. BlackRock Inc. now owns 15,408,942 shares of the bank’s stock valued at $439,001,000 after acquiring an additional 339,634 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of First Financial Bankshares during the 1st quarter worth $7,939,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Up 1.0 %

FFIN stock opened at $30.21 on Friday. The stock’s 50 day moving average is $31.33 and its two-hundred day moving average is $28.66. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $33.15. The company has a market capitalization of $4.31 billion, a PE ratio of 21.58 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The company had revenue of $119.49 million for the quarter, compared to analyst estimates of $125.09 million. During the same period in the prior year, the business earned $0.41 earnings per share. First Financial Bankshares’s revenue was down 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.45 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Analyst Ratings Changes

A number of research firms have recently commented on FFIN. Truist Financial dropped their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, Stephens lifted their target price on shares of First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.75.

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.