Bessemer Group Inc. Sells 9,106 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bessemer Group Inc. lowered its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,483 shares of the bank's stock after selling 9,106 shares during the period. Bessemer Group Inc.'s holdings in First Financial Bankshares were worth $1,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FFIN. Assetmark Inc. purchased a new stake in First Financial Bankshares in the 4th quarter worth about $33,000. R Squared Ltd acquired a new position in shares of First Financial Bankshares in the 4th quarter valued at about $88,000. Harvest Fund Management Co. Ltd lifted its position in shares of First Financial Bankshares by 1,497.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock worth $118,000 after purchasing an additional 3,039 shares in the last quarter. KBC Group NV boosted its holdings in shares of First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after purchasing an additional 1,819 shares during the period. Finally, US Bancorp DE grew its position in First Financial Bankshares by 7.4% during the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a research report on Monday, January 27th.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the transaction, the director now directly owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.96% of the company's stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN traded down $0.08 during mid-day trading on Friday, reaching $32.68. 503,545 shares of the company traded hands, compared to its average volume of 544,708. The company's fifty day moving average is $35.30 and its two-hundred day moving average is $37.23. First Financial Bankshares, Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $44.66. The stock has a market cap of $4.67 billion, a PE ratio of 20.95 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The company had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. Research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.20%. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

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.