First Financial Bankshares, Inc. (NASDAQ:FFIN) Position Trimmed by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. decreased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 83.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,600 shares of the bank’s stock after selling 8,000 shares during the period. Geneos Wealth Management Inc.’s holdings in First Financial Bankshares were worth $48,000 as of its most recent SEC filing.

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

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $29.02 on Wednesday. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $33.15. The company’s fifty day moving average price is $31.23 and its two-hundred day moving average price is $28.82. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 20.73 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.32 earnings per share (EPS) 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 the consensus estimate of $125.09 million. During the same quarter last year, the company posted $0.41 EPS. The business’s revenue was down 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.45 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.48%. First Financial Bankshares’s payout ratio is currently 51.43%.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of recent research reports. Truist Financial lowered their target price on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Stephens raised their price objective on shares of First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.75.

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.