NFJ Investment Group LLC Cuts Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

NFJ Investment Group LLC lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 605,756 shares of the bank’s stock after selling 24,751 shares during the period. NFJ Investment Group LLC’s holdings in First Financial Bankshares were worth $22,419,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Strategic Financial Concepts LLC lifted its holdings in shares of First Financial Bankshares by 3,632.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of First Financial Bankshares by 6.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after purchasing an additional 223,640 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of First Financial Bankshares in the 3rd quarter worth approximately $8,235,000. Cubist Systematic Strategies LLC increased its position in shares of First Financial Bankshares by 10,296.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 189,732 shares of the bank’s stock valued at $5,603,000 after purchasing an additional 187,907 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in First Financial Bankshares by 37.5% during the 3rd quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock valued at $22,701,000 after buying an additional 167,433 shares during the period. Institutional investors own 69.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FFIN shares. Truist Financial boosted their price objective 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. Hovde Group increased their price objective 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. Finally, Stephens boosted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the transaction, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Down 0.2 %

FFIN stock traded down $0.08 during trading on Tuesday, hitting $41.29. The company had a trading volume of 14,426 shares, compared to its average volume of 536,401. First Financial Bankshares, Inc. has a 52-week low of $26.54 and a 52-week high of $44.66. The company has a 50 day simple moving average of $38.69 and a 200-day simple moving average of $35.04. The firm has a market capitalization of $5.90 billion, a P/E ratio of 28.53 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. Sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.74%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s payout ratio is 49.66%.

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.