Sunbelt Securities Inc. Trims Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Sunbelt Securities Inc. decreased its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,700 shares of the bank’s stock after selling 1,600 shares during the period. Sunbelt Securities Inc.’s holdings in First Financial Bankshares were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FFIN. Neo Ivy Capital Management bought a new position in First Financial Bankshares in the second quarter valued at $41,000. Huntington National Bank increased its position in shares of First Financial Bankshares by 32.2% during the 3rd 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 last quarter. Quarry LP purchased a new position in shares of First Financial Bankshares during the 2nd quarter valued at about $83,000. Point72 DIFC Ltd bought a new stake in First Financial Bankshares in the 2nd quarter worth approximately $97,000. Finally, Point72 Asset Management L.P. purchased a new stake in First Financial Bankshares in the second quarter worth approximately $118,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Price Performance

NASDAQ FFIN opened at $40.63 on Friday. The business’s 50-day moving average is $39.28 and its 200 day moving average is $35.51. The stock has a market capitalization of $5.81 billion, a PE ratio of 28.02 and a beta of 0.81. First Financial Bankshares, Inc. has a 1 year low of $27.06 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $142.10 million during the quarter, compared to the consensus estimate of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. As a group, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FFIN. Stephens upped their price objective on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Hovde Group increased their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price target on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.22% of the stock is owned by insiders.

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.