First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,855,439 shares of the bank’s stock after selling 240,145 shares during the period. Vanguard Group Inc. owned about 9.69% of First Financial Bankshares worth $497,687,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FFIN. LPL Financial LLC grew its holdings in First Financial Bankshares by 86.4% in the fourth quarter. LPL Financial LLC now owns 27,150 shares of the bank’s stock valued at $979,000 after purchasing an additional 12,582 shares during the period. Russell Investments Group Ltd. grew its holdings in First Financial Bankshares by 16.0% in the fourth quarter. Russell Investments Group Ltd. now owns 7,630 shares of the bank’s stock valued at $275,000 after purchasing an additional 1,054 shares during the period. Federated Hermes Inc. grew its holdings in First Financial Bankshares by 2.3% in the fourth quarter. Federated Hermes Inc. now owns 13,313 shares of the bank’s stock valued at $480,000 after purchasing an additional 295 shares during the period. Bank of Montreal Can grew its holdings in First Financial Bankshares by 11.0% in the fourth quarter. Bank of Montreal Can now owns 17,724 shares of the bank’s stock valued at $639,000 after purchasing an additional 1,753 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in First Financial Bankshares in the fourth quarter valued at approximately $8,341,000. 69.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael B. Denny purchased 5,000 shares of the stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director directly owned 108,708 shares of the company’s stock, valued at approximately $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. Insiders purchased 5,850 shares of company stock valued at $210,839 over the last quarter. Insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FFIN. Keefe, Bruyette & Woods raised their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, July 18th. Hovde Group raised their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, July 21st.

First Financial Bankshares Price Performance

Shares of NASDAQ:FFIN opened at $36.43 on Friday. The business’s 50 day moving average price is $36.08 and its 200-day moving average price is $35.62. The firm has a market capitalization of $5.21 billion, a PE ratio of 21.18 and a beta of 0.87. 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 quarterly earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million for 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 period in the previous year, the company posted $0.37 earnings per share. As a group, analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. First Financial Bankshares’s payout ratio is currently 44.19%.

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.