Axiom Investors LLC DE Lowers Holdings in First Financial Bankshares, Inc. $FFIN

Key Points

• Axiom Investors LLC DE cut its stake in First Financial Bankshares by 32.5% in the fourth quarter, selling about 209,987 shares and leaving it with 436,345 shares worth roughly $13.0 million.
• The stock continues to draw mixed Wall Street views: analysts currently have a Hold consensus, with Keefe, Bruyette & Woods lowering its price target to $34 from $36 while the average target sits at $37.33.
• First Financial Bankshares reported better-than-expected quarterly earnings of $0.50 per share and raised its quarterly dividend to $0.22 per share, lifting the annualized payout to $0.88 for a 2.7% yield.

Axiom Investors LLC DE trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 32.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 436,345 shares of the bank's stock after selling 209,987 shares during the period. Axiom Investors LLC DE owned approximately 0.30% of First Financial Bankshares worth $13,034,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in First Financial Bankshares by 3,042,660.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank's stock worth $642,573,000 after purchasing an additional 21,511,608 shares in the last quarter. Norges Bank acquired a new position in First Financial Bankshares during the fourth quarter worth $51,227,000. Bank of America Corp DE lifted its stake in First Financial Bankshares by 31.8% during the third quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank's stock worth $43,434,000 after purchasing an additional 311,628 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in First Financial Bankshares by 14.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,185,703 shares of the bank's stock worth $35,417,000 after purchasing an additional 147,990 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in First Financial Bankshares by 3.9% during the third quarter. Invesco Ltd. now owns 1,144,070 shares of the bank's stock worth $38,498,000 after purchasing an additional 43,042 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FFIN has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price target on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $37.33.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Murray Hamilton Edwards bought 1,000 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $29.32 per share, with a total value of $29,320.00. Following the completion of the acquisition, the director directly owned 43,634 shares of the company's stock, valued at $1,279,348.88. This represents a 2.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnny Trotter bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $29.26 per share, for a total transaction of $29,260.00. Following the acquisition, the director directly owned 956,444 shares of the company's stock, valued at $27,985,551.44. The trade was a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 4,164 shares of company stock valued at $123,571 over the last quarter. 3.80% of the stock is owned by insiders.

First Financial Bankshares Trading Up 1.3%

Shares of NASDAQ FFIN opened at $33.12 on Wednesday. The stock has a market cap of $4.75 billion, a P/E ratio of 18.00 and a beta of 0.83. First Financial Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $38.74. The business's fifty day simple moving average is $31.75 and its 200-day simple moving average is $31.56.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $166.89 million for the quarter, compared to analysts' expectations of $166.78 million. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.During the same period last year, the firm earned $0.43 earnings per share. On average, equities analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, June 12th. First Financial Bankshares's dividend payout ratio is currently 41.30%.

First Financial Bankshares Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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