UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 11.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 301,216 shares of the bank's stock after selling 39,795 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of First Financial Bankshares worth $11,148,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in First Financial Bankshares by 37.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 121,214 shares of the bank's stock worth $4,486,000 after purchasing an additional 32,813 shares in the last quarter. FMR LLC increased its position in shares of First Financial Bankshares by 71.9% during the third quarter. FMR LLC now owns 113,407 shares of the bank's stock valued at $4,197,000 after acquiring an additional 47,417 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its holdings in First Financial Bankshares by 22.6% during the third quarter. Advantage Alpha Capital Partners LP now owns 14,966 shares of the bank's stock worth $554,000 after acquiring an additional 2,754 shares during the period. Algert Global LLC boosted its position in First Financial Bankshares by 30.8% in the third quarter. Algert Global LLC now owns 15,979 shares of the bank's stock worth $591,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in First Financial Bankshares by 6.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 26,337 shares of the bank's stock valued at $975,000 after purchasing an additional 1,705 shares during the period. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a research report on Friday, September 20th. Stephens raised their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Hovde Group upped their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the stock a "market perform" rating in a report on Wednesday.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded down $0.03 on Friday, hitting $40.91. The stock had a trading volume of 247,333 shares, compared to its average volume of 459,820. The firm has a 50-day moving average of $39.01 and a 200-day moving average of $35.28. First Financial Bankshares, Inc. has a 52-week low of $26.54 and a 52-week high of $44.66. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 28.21 and a beta of 0.81.

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 company had revenue of $142.10 million for the quarter, compared to the consensus estimate of $140.25 million. As a group, research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share 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. Stockholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares's payout ratio is 49.66%.

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.