Advantage Alpha Capital Partners LP Sells 10,274 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in First Financial Bankshares, Inc. by 60.9% in Q1, owning just 6,609 shares worth $237,000 after selling 10,274 shares during the quarter.
• Insider Michael B. Denny purchased 5,000 shares at $36.02 each, increasing his total holdings to 108,708 shares, demonstrating confidence in the company's prospects.
• First Financial Bankshares recently announced a quarterly dividend of $0.19, representing a 2.0% yield, with a current dividend payout ratio of 44.19%.

Advantage Alpha Capital Partners LP trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 60.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,609 shares of the bank's stock after selling 10,274 shares during the period. Advantage Alpha Capital Partners LP's holdings in First Financial Bankshares were worth $237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Michigan Retirement System lifted its holdings in shares of First Financial Bankshares by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 30,763 shares of the bank's stock valued at $1,105,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System raised its holdings in First Financial Bankshares by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the bank's stock worth $1,293,000 after purchasing an additional 300 shares during the period. Numerai GP LLC raised its holdings in First Financial Bankshares by 1.8% in the 4th quarter. Numerai GP LLC now owns 18,033 shares of the bank's stock worth $650,000 after purchasing an additional 312 shares during the period. 49 Wealth Management LLC raised its holdings in First Financial Bankshares by 4.7% in the 4th quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock worth $282,000 after purchasing an additional 350 shares during the period. Finally, KBC Group NV raised its holdings in First Financial Bankshares by 6.8% in the 1st quarter. KBC Group NV now owns 5,792 shares of the bank's stock worth $208,000 after purchasing an additional 370 shares during the period. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded down $0.55 during trading on Thursday, hitting $37.43. The stock had a trading volume of 98,668 shares, compared to its average volume of 534,062. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 21.76 and a beta of 0.87. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66. The stock has a 50 day simple moving average of $36.13 and a 200 day simple moving average of $35.54.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. During the same quarter last year, the firm earned $0.37 earnings per share. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares's payout ratio is currently 44.19%.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny purchased 5,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was purchased at an average price of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FFIN shares. Hovde Group raised their target price on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $39.25.

First Financial Bankshares Profile

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.