Bessemer Group Inc. Sells 34,799 Shares of First Financial Bankshares, Inc. $FFIN

Bessemer Group Inc. lowered its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 74.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,001 shares of the bank’s stock after selling 34,799 shares during the period. Bessemer Group Inc.’s holdings in First Financial Bankshares were worth $354,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC increased its stake in shares of First Financial Bankshares by 6.2% in the 4th quarter. Signaturefd LLC now owns 5,863 shares of the bank’s stock valued at $175,000 after buying an additional 344 shares during the period. Smart Money Group LLC lifted its stake in shares of First Financial Bankshares by 0.4% during the first quarter. Smart Money Group LLC now owns 80,245 shares of the bank’s stock valued at $2,363,000 after acquiring an additional 354 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in First Financial Bankshares by 2.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock valued at $393,000 after acquiring an additional 356 shares during the last quarter. Ballentine Partners LLC boosted its holdings in First Financial Bankshares by 3.0% in the fourth quarter. Ballentine Partners LLC now owns 13,482 shares of the bank’s stock valued at $403,000 after acquiring an additional 391 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in First Financial Bankshares by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock worth $60,000 after purchasing an additional 406 shares during the period. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 0.5%

Shares of First Financial Bankshares stock opened at $34.68 on Friday. The stock’s fifty day simple moving average is $33.65 and its 200 day simple moving average is $32.31. The company has a market capitalization of $4.97 billion, a PE ratio of 18.55 and a beta of 0.81. First Financial Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $38.12.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million during the quarter, compared to analysts’ expectations of $173.03 million. During the same period in the previous year, the firm earned $0.47 earnings per share. Analysts predict that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a $0.22 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s payout ratio is presently 47.06%.

Insider Activity

In other First Financial Bankshares news, Director Murray Hamilton Edwards bought 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $33.18 per share, with a total value of $33,180.00. Following the purchase, the director owned 44,634 shares in the company, valued at $1,480,956.12. This trade represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

FFIN has been the subject of several recent research reports. Benchmark began coverage on First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective for the company. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, First Financial Bankshares has a consensus rating of “Moderate Buy” and an average target price of $36.75.

First Financial Bankshares Company 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.