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 lowered its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 60.9% during the 1st quarter, according to its most recent filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FFIN. Russell Investments Group Ltd. grew its stake in shares of First Financial Bankshares by 16.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,630 shares of the bank's stock worth $275,000 after buying an additional 1,054 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of First Financial Bankshares by 5.8% in the 4th quarter. NewEdge Advisors LLC now owns 10,097 shares of the bank's stock worth $364,000 after buying an additional 551 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in First Financial Bankshares during the 4th quarter valued at $887,000. First Trust Advisors LP boosted its stake in First Financial Bankshares by 14.6% during the 4th quarter. First Trust Advisors LP now owns 256,253 shares of the bank's stock valued at $9,238,000 after purchasing an additional 32,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in First Financial Bankshares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock valued at $92,733,000 after purchasing an additional 42,280 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Buying and Selling

In related news, Director Michael B. Denny bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average cost of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director owned 108,708 shares in the company, valued at $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 5,850 shares of company stock valued at $210,839. 3.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, July 18th. Hovde Group increased their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.25.

First Financial Bankshares Stock Performance

Shares of FFIN stock traded up $0.36 on Wednesday, reaching $37.99. The stock had a trading volume of 526,728 shares, compared to its average volume of 534,516. The stock has a market cap of $5.44 billion, a P/E ratio of 22.09 and a beta of 0.87. First Financial Bankshares, Inc. has a 1 year low of $30.58 and a 1 year high of $44.66. The company has a 50 day simple moving average of $36.08 and a 200 day simple moving average of $35.52.

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

First Financial Bankshares Announces Dividend

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

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.