Emerald Mutual Fund Advisers Trust Sells 29,954 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Emerald Mutual Fund Advisers Trust cut its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 22.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,872 shares of the bank's stock after selling 29,954 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.07% of First Financial Bankshares worth $3,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Research & Advisory Group Inc. bought a new position in First Financial Bankshares during the 1st quarter valued at $26,000. Fifth Third Bancorp boosted its stake in First Financial Bankshares by 161.5% during the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after acquiring an additional 441 shares during the last quarter. Assetmark Inc. bought a new position in First Financial Bankshares during the 4th quarter valued at $33,000. UMB Bank n.a. lifted its position in shares of First Financial Bankshares by 245.6% in the 1st quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after buying an additional 1,353 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of First Financial Bankshares by 89.9% in the 1st 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of recent research reports. Hovde Group reduced their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 13th. The shares were bought at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the purchase, the director owned 108,708 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 6,399 shares of company stock valued at $227,646. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Stock Down 1.9%

Shares of NASDAQ:FFIN traded down $0.71 during trading on Friday, reaching $36.73. The stock had a trading volume of 350,627 shares, compared to its average volume of 531,064. First Financial Bankshares, Inc. has a 52 week low of $30.58 and a 52 week high of $44.66. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 22.67 and a beta of 0.87. The stock has a fifty day simple moving average of $35.85 and a two-hundred day simple moving average of $35.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. The business had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. On average, analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's payout ratio is currently 46.91%.

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.