Citigroup Inc. Raises Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Citigroup Inc. grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,553 shares of the bank's stock after buying an additional 53,195 shares during the quarter. Citigroup Inc. owned 0.18% of First Financial Bankshares worth $9,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FFIN. Strategic Financial Concepts LLC lifted its stake in shares of First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank's stock worth $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in First Financial Bankshares by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank's stock worth $75,482,000 after purchasing an additional 130,361 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in First Financial Bankshares by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank's stock valued at $62,961,000 after buying an additional 62,538 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First Financial Bankshares by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank's stock valued at $40,629,000 after acquiring an additional 15,473 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of First Financial Bankshares by 37.5% in the third quarter. Natixis Advisors LLC now owns 613,381 shares of the bank's stock worth $22,701,000 after buying an additional 167,433 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Performance

Shares of FFIN stock traded down $0.35 on Friday, hitting $41.68. 334,018 shares of the stock traded hands, compared to its average volume of 539,151. The firm's 50-day moving average price is $38.62 and its two-hundred day moving average price is $34.92. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $44.66. The stock has a market capitalization of $5.96 billion, a PE ratio of 28.74 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The firm had revenue of $142.10 million during the quarter, compared to the consensus estimate of $140.25 million. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares's dividend payout ratio (DPR) is currently 49.66%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FFIN shares. Hovde Group raised their price target on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a "market perform" rating in a research report on Monday, October 21st. Stephens lifted their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Finally, Truist Financial increased their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a research note on Friday, September 20th.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now directly owns 101,085 shares of the company's stock, valued at $4,156,615.20. The trade was a 6.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares 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.