Wells Fargo & Company MN trimmed its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 341,519 shares of the bank’s stock after selling 19,533 shares during the period. Wells Fargo & Company MN owned about 0.52% of First Financial Bankshares worth $15,385,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of FFIN. Raymond James Financial Services Advisors Inc. lifted its stake in First Financial Bankshares by 12.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,550 shares of the bank’s stock worth $1,110,000 after purchasing an additional 2,716 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of First Financial Bankshares during the 3rd quarter valued at $580,000. Alps Advisors Inc. purchased a new stake in shares of First Financial Bankshares during the 3rd quarter valued at $631,000. FDx Advisors Inc. purchased a new stake in shares of First Financial Bankshares during the 3rd quarter valued at $390,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of First Financial Bankshares by 77.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 36,771 shares of the bank’s stock valued at $1,662,000 after buying an additional 16,050 shares in the last quarter. 51.51% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on FFIN shares. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday. Hovde Group set a $46.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a report on Monday, January 29th. ValuEngine raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, SunTrust Banks reissued 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, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $44.57.
Shares of NASDAQ FFIN opened at $46.60 on Friday. The company has a market cap of $3,189.54, a P/E ratio of 27.41 and a beta of 1.27. First Financial Bankshares, Inc. has a 12-month low of $36.85 and a 12-month high of $49.60.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). First Financial Bankshares had a return on equity of 12.61% and a net margin of 35.72%. The firm had revenue of $83.20 million during the quarter, compared to the consensus estimate of $90.40 million. equities analysts predict that First Financial Bankshares, Inc. will post 2.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, March 14th. First Financial Bankshares’s payout ratio is 44.71%.
In other news, Director Steven L. Beal sold 15,973 shares of the company’s stock in a transaction dated 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 directly owns 1,465 shares in the company, valued at $69,397.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Johnny Trotter bought 11,400 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were acquired at an average price of $45.10 per share, for a total transaction of $514,140.00. Following the completion of the acquisition, the director now owns 388,938 shares in the company, valued at $17,541,103.80. The disclosure for this purchase can be found here. 4.77% of the stock is owned by corporate insiders.
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First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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