First Financial Bankshares, Inc. $FFIN Shares Sold by Cwm LLC

Cwm LLC lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,092 shares of the bank’s stock after selling 26,282 shares during the quarter. Cwm LLC owned 0.08% of First Financial Bankshares worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Police & Firemen s Retirement System of New Jersey lifted its holdings in First Financial Bankshares by 9.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 31,025 shares of the bank’s stock valued at $1,116,000 after acquiring an additional 2,598 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of First Financial Bankshares in the 2nd quarter valued at about $2,691,000. Strs Ohio purchased a new position in shares of First Financial Bankshares in the 1st quarter valued at about $402,000. Creative Planning lifted its stake in shares of First Financial Bankshares by 22.4% in the second quarter. Creative Planning now owns 83,526 shares of the bank’s stock valued at $3,005,000 after purchasing an additional 15,266 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in First Financial Bankshares by 10.8% during the second quarter. Mutual of America Capital Management LLC now owns 484,812 shares of the bank’s stock worth $17,444,000 after buying an additional 47,118 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Down 1.6%

Shares of NASDAQ:FFIN opened at $29.87 on Friday. The company has a market capitalization of $4.28 billion, a P/E ratio of 17.67 and a beta of 0.84. First Financial Bankshares, Inc. has a 52-week low of $29.80 and a 52-week high of $39.12. The stock’s fifty day simple moving average is $31.03 and its 200-day simple moving average is $33.86.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.21 million. During the same period in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. First Financial Bankshares’s dividend payout ratio (DPR) is 44.97%.

Insider Buying and Selling

In other news, Director Sally Pope Davis bought 1,700 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $30.73 per share, with a total value of $52,241.00. Following the purchase, the director owned 6,971 shares of the company’s stock, valued at approximately $214,218.83. The trade was a 32.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michelle S. Hickox purchased 2,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average price of $31.15 per share, with a total value of $62,300.00. Following the completion of the acquisition, the chief financial officer directly owned 24,461 shares in the company, valued at $761,960.15. The trade was a 8.90% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 4,353 shares of company stock worth $134,888. 4.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FFIN. Hovde Group raised shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

First Financial Bankshares Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.