BlackRock Inc. lowered its holdings in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 21.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,665,120 shares of the bank’s stock after selling 2,086,269 shares during the period. BlackRock Inc. owned about 11.30% of First Financial Bankshares worth $442,889,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc raised its position in First Financial Bankshares by 2.1% during the third quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after acquiring an additional 138,088 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of First Financial Bankshares by 2.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,795 shares of the bank’s stock valued at $90,274,000 after buying an additional 42,710 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $26,000. Dimensional Fund Advisors LP raised its position in shares of First Financial Bankshares by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,230,481 shares of the bank’s stock valued at $70,986,000 after buying an additional 13,808 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of First Financial Bankshares by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 822,663 shares of the bank’s stock valued at $47,459,000 after buying an additional 52,256 shares during the last quarter. Institutional investors own 55.53% of the company’s stock.
FFIN stock traded down $0.40 on Monday, hitting $30.39. 628,161 shares of the company were exchanged, compared to its average volume of 812,496. First Financial Bankshares Inc has a twelve month low of $25.27 and a twelve month high of $33.42. The company has a fifty day simple moving average of $43.00. The firm has a market cap of $8.25 billion, a PE ratio of 27.88 and a beta of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 44.04%.
In other First Financial Bankshares news, Director Johnny Trotter acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was bought at an average cost of $61.61 per share, for a total transaction of $184,830.00. Following the completion of the purchase, the director now directly owns 394,913 shares in the company, valued at $24,330,589.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Copeland sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total transaction of $308,400.00. Following the sale, the director now owns 34,094 shares of the company’s stock, valued at $2,102,917.92. The disclosure for this sale can be found here. Insiders have purchased 10,511 shares of company stock valued at $643,239 in the last ninety days. 4.90% of the stock is currently owned by company insiders.
A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. ValuEngine lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Stephens reissued a “neutral” rating and issued a $28.50 price objective on shares of First Financial Bankshares in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. First Financial Bankshares currently has a consensus rating of “Hold” and a consensus price target of $30.33.
About First Financial Bankshares
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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