First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC lowered its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 37.3% in the third quarter, Holdings Channel.com reports. The fund owned 7,475 shares of the bank’s stock after selling 4,447 shares during the quarter. 49 Wealth Management LLC’s holdings in First Financial Bankshares were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after acquiring an additional 490,770 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of First Financial Bankshares by 29.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,709 shares of the bank’s stock valued at $614,000 after buying an additional 4,221 shares during the last quarter. Bessemer Group Inc. raised its position in shares of First Financial Bankshares by 30.3% in the first quarter. Bessemer Group Inc. now owns 44,300 shares of the bank’s stock valued at $1,454,000 after buying an additional 10,295 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of First Financial Bankshares by 2.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 104,002 shares of the bank’s stock valued at $3,414,000 after buying an additional 2,424 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in First Financial Bankshares during the first quarter worth approximately $408,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $42.77 on Friday. First Financial Bankshares, Inc. has a one year low of $25.99 and a one year high of $43.57. The stock has a 50-day moving average price of $38.19 and a 200 day moving average price of $34.53. The company has a market capitalization of $6.11 billion, a P/E ratio of 29.50 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. As a group, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s payout ratio is currently 49.66%.

Insiders Place Their Bets

In related news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FFIN has been the subject of a number of recent analyst reports. Stephens lifted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Hovde Group increased their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Truist Financial boosted their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th.

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.