First Financial Bankshares, Inc. (NASDAQ:FFIN) Stake Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 323,609 shares of the bank's stock after selling 21,177 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of First Financial Bankshares worth $11,666,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FFIN. Barclays PLC increased its position in shares of First Financial Bankshares by 83.0% during the third quarter. Barclays PLC now owns 289,468 shares of the bank's stock worth $10,714,000 after acquiring an additional 131,259 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in First Financial Bankshares during the 4th quarter valued at approximately $402,000. Atria Wealth Solutions Inc. increased its holdings in First Financial Bankshares by 26.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 43,335 shares of the bank's stock worth $1,567,000 after purchasing an additional 9,056 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of First Financial Bankshares by 39.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 461,726 shares of the bank's stock valued at $17,088,000 after purchasing an additional 131,063 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at approximately $3,504,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Up 2.6 %

Shares of NASDAQ:FFIN traded up $0.87 on Wednesday, reaching $34.07. 62,233 shares of the company's stock were exchanged, compared to its average volume of 541,158. The business's 50-day moving average is $35.11 and its two-hundred day moving average is $37.20. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 21.84 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. Analysts predict that First Financial Bankshares, Inc. will post 1.78 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 Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's payout ratio is 44.44%.

Insider Buying and Selling

In related news, Director Johnny Trotter bought 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.22% of the company's stock.

Analysts Set New Price Targets

FFIN has been the subject of several research analyst reports. Hovde Group dropped their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a research report on Monday. Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a report on Monday.

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.