Stoneridge Investment Partners LLC Lowers Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Stoneridge Investment Partners LLC trimmed its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,395 shares of the bank’s stock after selling 1,930 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in First Financial Bankshares were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its position in First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after buying an additional 270 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of First Financial Bankshares by 6.0% during the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after acquiring an additional 296 shares in the last quarter. Ballentine Partners LLC boosted its position in First Financial Bankshares by 2.8% during the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after purchasing an additional 333 shares during the period. Kingsview Wealth Management LLC increased its holdings in First Financial Bankshares by 2.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 24,750 shares of the bank’s stock valued at $812,000 after purchasing an additional 544 shares in the last quarter. Finally, Diversified Trust Co raised its position in First Financial Bankshares by 3.0% in the second quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock valued at $865,000 after purchasing an additional 865 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $36.08 on Tuesday. First Financial Bankshares, Inc. has a one year low of $24.22 and a one year high of $39.53. The stock has a 50-day moving average price of $36.73 and a 200 day moving average price of $33.51. The company has a market capitalization of $5.15 billion, a P/E ratio of 24.88 and a beta of 0.78.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stephens upped their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Truist Financial upped their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Hovde Group lifted their price objective on shares of 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.

First Financial Bankshares Company 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.