Federated Hermes Inc. Reduces Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Federated Hermes Inc. trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,245 shares of the bank’s stock after selling 7,745 shares during the period. Federated Hermes Inc.’s holdings in First Financial Bankshares were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new position in shares of First Financial Bankshares during the 3rd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC acquired a new position in shares of First Financial Bankshares in the third quarter worth $40,000. Signaturefd LLC lifted its position in shares of First Financial Bankshares by 35.6% in the third quarter. Signaturefd LLC now owns 2,676 shares of the bank’s stock valued at $67,000 after acquiring an additional 703 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of First Financial Bankshares during the third quarter valued at $115,000. Finally, Briaud Financial Planning Inc purchased a new stake in First Financial Bankshares during the 3rd quarter worth about $147,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Up 0.6 %

FFIN stock opened at $30.76 on Friday. 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 cap of $4.39 billion, a price-to-earnings ratio of 21.97 and a beta of 0.83. The business has a fifty day simple moving average of $30.87 and a 200-day simple moving average of $29.29.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $129.63 million during the quarter, compared to analyst estimates of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts expect that First Financial Bankshares, Inc. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $30.22 per share, with a total value of $45,330.00. Following the transaction, the director now owns 940,371 shares in the company, valued at $28,418,011.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 3,177 shares of company stock valued at $95,834 over the last ninety days. Corporate insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stephens decreased their price target on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Truist Financial reduced their price target on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods upped their target price 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. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, First Financial Bankshares has a consensus rating of “Hold” and an average target price of $31.33.

About First Financial Bankshares

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.