Doliver Advisors LP Reduces Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Doliver Advisors LP trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 65,800 shares of the bank’s stock after selling 700 shares during the quarter. First Financial Bankshares makes up about 0.7% of Doliver Advisors LP’s portfolio, making the stock its 21st biggest position. Doliver Advisors LP’s holdings in First Financial Bankshares were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after buying an additional 577 shares during the last quarter. Quarry LP purchased a new position in First Financial Bankshares during the 2nd quarter valued at $83,000. Point72 DIFC Ltd bought a new position in First Financial Bankshares in the 2nd quarter valued at $97,000. Point72 Asset Management L.P. purchased a new stake in First Financial Bankshares in the second quarter worth $118,000. Finally, US Bancorp DE lifted its position in shares of First Financial Bankshares by 50.9% during the third quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock worth $186,000 after purchasing an additional 1,696 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FFIN shares. Stephens upped their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Hovde Group upped their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Truist Financial lifted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In related news, CEO F Scott Dueser sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the transaction, the chief executive officer now owns 471,004 shares in the company, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.22% of the company’s stock.

First Financial Bankshares Trading Up 0.6 %

Shares of FFIN traded up $0.23 during mid-day trading on Monday, hitting $36.25. The company’s stock had a trading volume of 230,537 shares, compared to its average volume of 522,723. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 25.00 and a beta of 0.83. First Financial Bankshares, Inc. has a 52-week low of $27.06 and a 52-week high of $44.66. The company’s 50-day moving average is $39.37 and its 200-day moving average is $36.56.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million for 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, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.99%. First Financial Bankshares’s payout ratio is 49.66%.

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.