First Financial Bankshares Inc Sells 514,308 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

First Financial Bankshares Inc trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,313,555 shares of the bank's stock after selling 514,308 shares during the period. First Financial Bankshares makes up about 13.5% of First Financial Bankshares Inc's holdings, making the stock its biggest holding. First Financial Bankshares Inc owned 12.12% of First Financial Bankshares worth $624,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. purchased a new position in First Financial Bankshares in the 4th quarter valued at about $33,000. 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 purchasing an additional 577 shares during the period. R Squared Ltd acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $88,000. Harvest Fund Management Co. Ltd raised its holdings in First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock worth $118,000 after purchasing an additional 3,039 shares in the last quarter. Finally, KBC Group NV raised its holdings in First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after purchasing an additional 1,819 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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First Financial Bankshares Price Performance

NASDAQ FFIN traded up $0.05 on Friday, hitting $35.70. 1,563,201 shares of the stock were exchanged, compared to its average volume of 496,485. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 22.88 and a beta of 0.78. The company's 50-day moving average price is $36.90 and its two-hundred day moving average price is $37.71.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 EPS 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 analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Johnny Trotter acquired 6,000 shares of the firm'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 purchase, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.22% of the stock is owned by company 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.