Atria Wealth Solutions Inc. Trims Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Atria Wealth Solutions Inc. lessened its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 44.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,279 shares of the bank’s stock after selling 19,056 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in First Financial Bankshares were worth $876,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FFIN. Squarepoint Ops LLC increased its position in shares of First Financial Bankshares by 65.9% in the fourth quarter. Squarepoint Ops LLC now owns 29,807 shares of the bank’s stock worth $1,075,000 after purchasing an additional 11,836 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Financial Bankshares by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,097 shares of the bank’s stock worth $12,152,000 after purchasing an additional 35,881 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of First Financial Bankshares in the fourth quarter worth approximately $835,000. GAMMA Investing LLC increased its position in shares of First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock worth $69,000 after purchasing an additional 912 shares during the last quarter. Finally, GTS Securities LLC bought a new position in shares of First Financial Bankshares in the fourth quarter worth approximately $278,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

Shares of FFIN opened at $33.90 on Tuesday. The firm has a market cap of $4.85 billion, a P/E ratio of 19.71 and a beta of 0.87. The stock has a 50 day simple moving average of $36.07 and a two-hundred day simple moving average of $35.63. First Financial Bankshares, Inc. has a 1 year low of $30.58 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. During the same quarter in the prior year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares’s dividend payout ratio is 44.19%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Hovde Group upped their price objective on shares of First Financial Bankshares from $38.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares in the company, valued at $3,915,662.16. This trade represents a 4.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 5,850 shares of company stock worth $210,839 over the last ninety days. Corporate insiders own 3.96% of the company’s stock.

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.