First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in First Financial Bankshares by 44%, holding 24,279 shares worth $876,000 after selling 19,056 shares in the first quarter.
• First Financial Bankshares reported earnings per share of $0.47 for the last quarter, exceeding analyst expectations, with a net margin of 31.01%.
• The bank declared a quarterly dividend of $0.19 per share, with an annualized dividend yield of 2.2%, to be paid on October 1st.

Atria Wealth Solutions Inc. lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,279 shares of the bank's stock after selling 19,056 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in First Financial Bankshares were worth $876,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after acquiring an additional 441 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new position in shares of First Financial Bankshares in the first quarter worth about $26,000. Assetmark Inc. raised its stake in shares of First Financial Bankshares by 76.5% in the first quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock worth $59,000 after purchasing an additional 706 shares during the last quarter. UMB Bank n.a. raised its stake in shares of First Financial Bankshares by 245.6% in the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after purchasing an additional 1,353 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after purchasing an additional 912 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Price Performance

FFIN stock traded down $1.05 during trading on Friday, hitting $35.38. 917,055 shares of the company traded hands, compared to its average volume of 582,635. The stock's 50-day simple moving average is $36.06 and its 200 day simple moving average is $35.60. The company has a market cap of $5.06 billion, a PE ratio of 20.57 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.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. During the same period last year, the company earned $0.37 earnings per share. Research analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares's dividend payout ratio (DPR) is presently 44.19%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Hovde Group raised their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny acquired 5,000 shares of the company's stock in a transaction 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 completion of the acquisition, the director owned 108,708 shares in the company, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased 5,850 shares of company stock valued at $210,839 over the last quarter. 4.22% of the stock is currently owned by company insiders.

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.