Cullen Frost Bankers Inc. Decreases Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Cullen Frost Bankers Inc. has decreased its stake in First Financial Bankshares by 12.2% during the second quarter, selling 8,200 shares, bringing its total holdings down to 58,762 shares.
• First Financial Bankshares reported quarterly earnings of $0.36 per share, missing the consensus estimate of $0.47, while its revenue increased by 15.6% year-over-year.
• The stock has experienced a 1.0% decline, with a current price of $31.85 and an average target price of $38.67 according to analysts, reflecting a general consensus of "Hold."

Cullen Frost Bankers Inc. cut its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 12.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 58,762 shares of the bank's stock after selling 8,200 shares during the period. Cullen Frost Bankers Inc.'s holdings in First Financial Bankshares were worth $2,114,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in First Financial Bankshares in the first quarter worth about $36,000. Smartleaf Asset Management LLC raised its holdings in First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock worth $45,000 after buying an additional 404 shares during the last quarter. Quarry LP raised its holdings in First Financial Bankshares by 336.9% in the first quarter. Quarry LP now owns 1,573 shares of the bank's stock worth $57,000 after buying an additional 1,213 shares during the last quarter. Assetmark Inc. raised its holdings in 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 buying an additional 706 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 buying an additional 912 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Down 1.0%

FFIN opened at $31.85 on Friday. The firm has a 50 day moving average price of $34.81 and a 200-day moving average price of $35.03. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 18.52 and a beta of 0.86. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.First Financial Bankshares's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

FFIN has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of First Financial Bankshares in a report on Wednesday, September 10th. They issued a "neutral" rating and a $39.00 target price for the company. Hovde Group boosted their price objective on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Weiss Ratings reissued a "hold (c)" rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $38.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.