Bank of New York Mellon Corp Lowers Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bank of New York Mellon Corp cut its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,070,060 shares of the bank's stock after selling 78,620 shares during the period. Bank of New York Mellon Corp owned about 0.75% of First Financial Bankshares worth $38,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FFIN. State of Alaska Department of Revenue lifted its holdings in shares of First Financial Bankshares by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 14,881 shares of the bank's stock worth $550,000 after purchasing an additional 1,010 shares during the period. US Bancorp DE lifted its holdings in First Financial Bankshares by 50.9% during the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank's stock worth $186,000 after buying an additional 1,696 shares during the period. Avidian Wealth Enterprises LLC acquired a new position in First Financial Bankshares during the 3rd quarter worth about $227,000. Los Angeles Capital Management LLC grew its position in shares of First Financial Bankshares by 368.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 76,227 shares of the bank's stock valued at $2,821,000 after buying an additional 59,958 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of First Financial Bankshares by 32.2% in 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 period. 69.78% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a research note on Monday, January 27th.

Insider Activity

In other news, CEO F Scott Dueser sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was 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 $19,183,992.92. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.22% of the company's stock.

First Financial Bankshares Stock Down 2.1 %

FFIN traded down $0.76 during trading on Monday, hitting $35.57. The company's stock had a trading volume of 698,372 shares, compared to its average volume of 485,928. The firm has a market capitalization of $5.09 billion, a P/E ratio of 22.80 and a beta of 0.78. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The stock's fifty day moving average price is $36.97 and its 200-day moving average price is $37.77.

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

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. First Financial Bankshares's payout ratio is currently 46.15%.

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.