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Avalon Investment & Advisory cut its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 45.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,759 shares of the bank’s stock after selling 23,066 shares during the period. Avalon Investment & Advisory’s holdings in First Financial Bankshares were worth $1,161,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Willis Johnson & Associates Inc. raised its position in shares of First Financial Bankshares by 0.3% during the third quarter. Willis Johnson & Associates Inc. now owns 70,716 shares of the bank’s stock worth $2,958,000 after purchasing an additional 244 shares during the period. Ronald Blue Trust Inc. raised its position in First Financial Bankshares by 3.1% during the third quarter. Ronald Blue Trust Inc. now owns 10,416 shares of the bank’s stock valued at $409,000 after buying an additional 316 shares during the period. Van ECK Associates Corp raised its position in First Financial Bankshares by 9.9% during the third quarter. Van ECK Associates Corp now owns 3,824 shares of the bank’s stock valued at $160,000 after buying an additional 344 shares during the period. Creative Planning raised its position in First Financial Bankshares by 4.9% during the second quarter. Creative Planning now owns 8,114 shares of the bank’s stock valued at $319,000 after buying an additional 380 shares during the period. Finally, State of Alaska Department of Revenue raised its position in First Financial Bankshares by 2.2% during the second quarter. State of Alaska Department of Revenue now owns 18,442 shares of the bank’s stock valued at $724,000 after buying an additional 395 shares during the period. 53.86% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Truist Financial dropped their price target on First Financial Bankshares from $42.00 to $38.00 in a research report on Friday, December 9th. StockNews.com lowered First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, December 12th.
Insider Buying and Selling at First Financial Bankshares
In other news, Director Johnny Trotter bought 4,000 shares of the stock in a transaction on Tuesday, October 25th. The shares were purchased at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the completion of the purchase, the director now directly owns 902,057 shares of the company’s stock, valued at approximately $33,321,985.58. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Johnny Trotter purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was bought at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the purchase, the director now owns 902,057 shares in the company, valued at approximately $33,321,985.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO F Scott Dueser purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were bought at an average price of $37.59 per share, with a total value of $37,590.00. Following the purchase, the chief executive officer now owns 940,814 shares in the company, valued at approximately $35,365,198.26. The disclosure for this purchase can be found here. Insiders have bought 5,306 shares of company stock worth $196,941 over the last 90 days. 4.19% of the stock is currently owned by corporate insiders.
First Financial Bankshares Price Performance
Shares of NASDAQ FFIN opened at $35.07 on Friday. The business’s 50-day moving average price is $35.46 and its two-hundred day moving average price is $39.92. First Financial Bankshares, Inc. has a one year low of $32.53 and a one year high of $53.07. The company has a market capitalization of $5.00 billion, a P/E ratio of 21.78 and a beta of 0.75.
First Financial Bankshares (NASDAQ:FFIN – Get Rating) last issued its earnings results on Thursday, October 20th. The bank reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. First Financial Bankshares had a return on equity of 16.19% and a net margin of 42.35%. The firm had revenue of $135.84 million for the quarter, compared to the consensus estimate of $136.20 million. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.62 EPS for the current year.
First Financial Bankshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 42.24%.
About First Financial Bankshares
(Get Rating)
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.
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