American Century Companies Inc. trimmed its stake in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 64.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 66,447 shares of the bank’s stock after selling 119,018 shares during the period. American Century Companies Inc.’s holdings in First Financial Bankshares were worth $2,993,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Milestone Group Inc. bought a new stake in shares of First Financial Bankshares during the 3rd quarter worth about $201,000. CIBC Asset Management Inc bought a new stake in shares of First Financial Bankshares during the 4th quarter worth about $233,000. FDx Advisors Inc. bought a new stake in shares of First Financial Bankshares during the 3rd quarter worth about $390,000. Envestnet Asset Management Inc. raised its position in shares of First Financial Bankshares by 44.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 8,641 shares of the bank’s stock worth $391,000 after buying an additional 2,675 shares in the last quarter. Finally, Smith Asset Management Group LP raised its position in shares of First Financial Bankshares by 18.0% during the 3rd quarter. Smith Asset Management Group LP now owns 11,492 shares of the bank’s stock worth $519,000 after buying an additional 1,752 shares in the last quarter. Institutional investors own 51.89% of the company’s stock.
A number of analysts have commented on FFIN shares. Sandler O’Neill restated a “sell” rating and set a $40.00 price target on shares of First Financial Bankshares in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. BidaskClub downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Hovde Group set a $46.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a research report on Monday, January 29th. Finally, SunTrust Banks restated a “hold” rating and set a $48.00 price target on shares of First Financial Bankshares in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. First Financial Bankshares has an average rating of “Hold” and a consensus target price of $44.14.
First Financial Bankshares Inc (NASDAQ:FFIN) opened at $47.40 on Friday. The stock has a market cap of $3,162.51, a P/E ratio of 26.19 and a beta of 1.37. First Financial Bankshares Inc has a 52 week low of $36.85 and a 52 week high of $48.85.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The business had revenue of $83.20 million during the quarter, compared to analyst estimates of $90.40 million. First Financial Bankshares had a return on equity of 12.61% and a net margin of 35.72%. research analysts predict that First Financial Bankshares Inc will post 2.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. First Financial Bankshares’s dividend payout ratio is currently 41.99%.
In other news, Director Steven L. Beal sold 15,973 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $47.37, for a total value of $756,641.01. Following the transaction, the director now owns 1,465 shares of the company’s stock, valued at approximately $69,397.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnny Trotter acquired 11,400 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $45.10 per share, for a total transaction of $514,140.00. Following the purchase, the director now directly owns 388,938 shares in the company, valued at $17,541,103.80. The disclosure for this purchase can be found here. Insiders own 5.04% of the company’s stock.
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About First Financial Bankshares
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. The Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, First Financial Insurance Agency, Inc, Abilene, Texas, Commercial Bancshares, Inc, and Commercial State Bank, Kingwood, Texas.
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