First Financial Bankshares, Inc. $FFIN Shares Sold by Invesco Ltd.

Invesco Ltd. cut its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 62.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,494 shares of the bank’s stock after selling 673,025 shares during the quarter. Invesco Ltd. owned 0.28% of First Financial Bankshares worth $14,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FFIN. Cubist Systematic Strategies LLC grew its stake in shares of 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 valued at $7,552,000 after buying an additional 197,986 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of First Financial Bankshares by 1,180.5% in the first quarter. Federated Hermes Inc. now owns 170,479 shares of the bank’s stock valued at $6,124,000 after buying an additional 157,166 shares in the last quarter. Northern Trust Corp grew its stake in shares of First Financial Bankshares by 8.1% in the fourth quarter. Northern Trust Corp now owns 1,776,607 shares of the bank’s stock valued at $64,047,000 after buying an additional 133,274 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of First Financial Bankshares by 936.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 133,485 shares of the bank’s stock valued at $4,812,000 after buying an additional 120,607 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First Financial Bankshares by 6,719.5% in the first quarter. GAMMA Investing LLC now owns 69,218 shares of the bank’s stock valued at $2,486,000 after buying an additional 68,203 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Trading Up 5.2%

Shares of NASDAQ FFIN opened at $37.64 on Friday. The business’s fifty day simple moving average is $36.00 and its 200-day simple moving average is $35.55. The stock has a market cap of $5.39 billion, a P/E ratio of 21.88 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 issued its earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. First Financial Bankshares’s payout ratio is presently 44.19%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Hovde Group increased their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.25.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny bought 5,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares in the company, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 5,850 shares of company stock worth $210,839 in the last three months. Insiders own 4.22% 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.