US Bancorp DE Lowers Holdings in First Financial Bankshares, Inc. $FFIN

US Bancorp DE decreased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 45.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,917 shares of the bank’s stock after selling 2,479 shares during the quarter. US Bancorp DE’s holdings in First Financial Bankshares were worth $105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in FFIN. Raymond James Financial Inc. purchased a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $8,341,000. Cubist Systematic Strategies LLC lifted its stake in First Financial Bankshares by 1,719.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank’s stock worth $7,552,000 after acquiring an additional 197,986 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Financial Bankshares by 1,180.5% during the 1st quarter. Federated Hermes Inc. now owns 170,479 shares of the bank’s stock worth $6,124,000 after acquiring an additional 157,166 shares in the last quarter. Northern Trust Corp increased its position in shares of First Financial Bankshares by 8.1% in the 4th quarter. Northern Trust Corp now owns 1,776,607 shares of the bank’s stock valued at $64,047,000 after purchasing an additional 133,274 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its position in shares of First Financial Bankshares by 936.5% in the 4th quarter. Tudor Investment Corp ET AL now owns 133,485 shares of the bank’s stock valued at $4,812,000 after purchasing an additional 120,607 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Hovde Group increased their price objective on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research report on Monday, July 21st.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $35.38 on Monday. The firm’s fifty day simple moving average is $36.06 and its 200-day simple moving average is $35.57. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 20.57 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.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $156.41 million. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. During the same period in the previous year, the company posted $0.37 EPS. Analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

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

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny acquired 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 transaction, the director directly owned 108,708 shares of the company’s stock, valued at approximately $3,915,662.16. This represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 5,850 shares of company stock valued at $210,839. 3.96% of the stock is owned by insiders.

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.