Envestnet Asset Management Inc. Sells 18,778 Shares of First Financial Bankshares, Inc. $FFIN

Envestnet Asset Management Inc. lessened its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,025 shares of the bank’s stock after selling 18,778 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of First Financial Bankshares worth $9,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new position in shares of First Financial Bankshares in the 3rd quarter worth about $25,000. Corsicana & Co. bought a new stake in First Financial Bankshares in the 3rd quarter worth approximately $27,000. State of Wyoming purchased a new stake in First Financial Bankshares in the second quarter worth approximately $54,000. Nisa Investment Advisors LLC grew its position in First Financial Bankshares by 33.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock valued at $60,000 after acquiring an additional 412 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of First Financial Bankshares by 32.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock worth $60,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research note on Friday, October 24th. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, First Financial Bankshares has a consensus rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Stock Up 0.4%

Shares of First Financial Bankshares stock opened at $33.10 on Friday. The company’s fifty day simple moving average is $32.11 and its two-hundred day simple moving average is $32.95. First Financial Bankshares, Inc. has a 12-month low of $29.43 and a 12-month high of $38.74. The firm has a market cap of $4.74 billion, a PE ratio of 18.70 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $164.72 million during the quarter, compared to the consensus estimate of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. As a group, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 42.94%.

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.