Cambridge Investment Research Advisors Inc. Sells 2,902 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,653 shares of the bank’s stock after selling 2,902 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in First Financial Bankshares were worth $1,407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. SYSTM Wealth Solutions LLC lifted its holdings in shares of First Financial Bankshares by 17.4% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock worth $88,000 after acquiring an additional 398 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of First Financial Bankshares by 81.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of First Financial Bankshares by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock valued at $5,292,000 after purchasing an additional 426 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of First Financial Bankshares by 4.5% in the 1st quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock valued at $398,000 after purchasing an additional 521 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of First Financial Bankshares by 2.2% during the 1st quarter. Blue Trust Inc. now owns 25,470 shares of the bank’s stock worth $836,000 after buying an additional 543 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FFIN shares. Truist Financial raised their price objective on First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Stephens raised their price target on shares of First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter acquired 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the purchase, the director now directly owns 943,371 shares in the company, valued at approximately $26,216,280.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Down 0.3 %

Shares of FFIN stock opened at $36.05 on Thursday. First Financial Bankshares, Inc. has a twelve month low of $22.84 and a twelve month high of $39.53. The stock’s fifty day simple moving average is $34.33 and its 200 day simple moving average is $31.78. The firm has a market capitalization of $5.15 billion, a P/E ratio of 25.75 and a beta of 0.79.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The company had revenue of $184.94 million for the quarter, compared to analysts’ expectations of $134.10 million. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 51.43%.

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.