Corebridge Financial Inc. Lowers Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Corebridge Financial Inc. cut its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 5.1% during the 4th quarter, according to its most recent Form 13F 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 period. Corebridge Financial Inc. owned approximately 0.15% of First Financial Bankshares worth $7,547,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of First Financial Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank's stock valued at $508,146,000 after acquiring an additional 110,923 shares during the last quarter. State Street Corp lifted its position in First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank's stock valued at $231,381,000 after purchasing an additional 281,166 shares during the period. Geode Capital Management LLC boosted its holdings in First Financial Bankshares by 8.0% in the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank's stock worth $124,446,000 after purchasing an additional 249,011 shares during the last quarter. Strategic Financial Concepts LLC grew its position in First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after purchasing an additional 2,730,017 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in First Financial Bankshares by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock valued at $61,494,000 after buying an additional 4,608 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

Remove Ads

First Financial Bankshares Stock Performance

Shares of FFIN stock traded down $0.07 during mid-day trading on Wednesday, reaching $35.62. 68,341 shares of the company's stock traded hands, compared to its average volume of 502,614. The firm has a market capitalization of $5.09 billion, a PE ratio of 22.85 and a beta of 0.78. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66. The firm has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $37.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's payout ratio is 46.15%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price target on 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 Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter acquired 6,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.22% of the company's stock.

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.