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

49 Wealth Management LLC cut its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 37.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FFIN. Olistico Wealth LLC acquired a new position in shares of First Financial Bankshares in the second quarter worth $29,000. Neo Ivy Capital Management acquired a new position in First Financial Bankshares during the 2nd quarter worth $41,000. Quarry LP purchased a new stake in First Financial Bankshares during the 2nd quarter worth about $83,000. Huntington National Bank raised its position in First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of First Financial Bankshares in the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.22% of the stock is owned by company insiders.

First Financial Bankshares Trading Up 3.2 %

Shares of NASDAQ FFIN opened at $42.77 on Friday. The stock has a market cap of $6.11 billion, a P/E ratio of 29.50 and a beta of 0.78. The stock has a 50 day moving average of $38.19 and a two-hundred day moving average of $34.53. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $142.10 million during the quarter, compared to analysts’ expectations 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, research analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

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 given a $0.18 dividend. 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 dividend payout ratio (DPR) is presently 49.66%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Stephens increased their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group upped their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report 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.