First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 322,134 shares of the bank’s stock after selling 1,475 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of First Financial Bankshares worth $11,571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock valued at $26,000 after purchasing an additional 441 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in First Financial Bankshares in the first quarter valued at $26,000. UMB Bank n.a. grew its holdings in First Financial Bankshares by 245.6% in the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank’s stock valued at $68,000 after purchasing an additional 1,353 shares during the last quarter. GAMMA Investing LLC grew its holdings in First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock valued at $69,000 after purchasing an additional 912 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in First Financial Bankshares by 1,497.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock valued at $118,000 after purchasing an additional 3,039 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 1.4%

Shares of NASDAQ FFIN opened at $37.32 on Friday. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 21.70 and a beta of 0.87. First Financial Bankshares, Inc. has a 12-month low of $30.58 and a 12-month high of $44.66. The stock’s 50 day simple moving average is $36.07 and its 200 day simple moving average is $35.75.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.89% and a net margin of 31.01%. The firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the previous year, the business earned $0.37 EPS. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, June 16th. First Financial Bankshares’s payout ratio is presently 46.91%.

Insider Activity

In related news, Director Michael B. Denny bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the acquisition, the director directly owned 108,708 shares of the company’s stock, valued at $3,915,662.16. The trade was a 4.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders acquired 6,399 shares of company stock valued at $227,646. Insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday. Hovde Group reduced their target price on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st.

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.