Corebridge Financial Inc. Sells 11,320 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Corebridge Financial Inc. cut its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,341 shares of the bank’s stock after selling 11,320 shares during the quarter. Corebridge Financial Inc.’s holdings in First Financial Bankshares were worth $7,547,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. bought a new stake in First Financial Bankshares in the fourth quarter valued at approximately $33,000. R Squared Ltd bought a new stake in shares of First Financial Bankshares in the 4th quarter valued at $88,000. Harvest Fund Management Co. Ltd raised its stake in First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after buying an additional 3,039 shares during the period. US Bancorp DE lifted its holdings in First Financial Bankshares by 7.4% during the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after acquiring an additional 370 shares in the last quarter. Finally, KBC Group NV grew its stake in First Financial Bankshares by 50.5% in the fourth quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after acquiring an additional 1,819 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter purchased 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the purchase, the director now owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Trading Down 1.3 %

Shares of NASDAQ FFIN opened at $35.81 on Friday. The company has a fifty day moving average price of $36.91 and a 200 day moving average price of $37.72. The firm has a market cap of $5.12 billion, a PE ratio of 22.96 and a beta of 0.78. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. Equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.01%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.15%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th.

About First Financial Bankshares

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.