First Trust Advisors LP Sells 62,634 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• First Trust Advisors LP cut its First Financial Bankshares stake by 53.9% in the first quarter, selling 62,634 shares and retaining 53,616 shares valued at approximately $1.58 million. Institutional investors collectively own 69.78% of FFIN.
• First Financial Bankshares reported quarterly EPS of $0.50, matching analyst estimates, while revenue of $172.76 million was slightly below expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $36.75.
• The company declared a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 2.5% yield; the payout ratio is 47.06%.

First Trust Advisors LP trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 53.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,616 shares of the bank's stock after selling 62,634 shares during the period. First Trust Advisors LP's holdings in First Financial Bankshares were worth $1,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FFIN. Quarry LP increased its stake in shares of First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank's stock valued at $35,000 after buying an additional 409 shares in the last quarter. Danske Bank A S lifted its position in First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after buying an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in First Financial Bankshares during the 4th quarter worth about $44,000. CIBC Private Wealth Group LLC bought a new stake in First Financial Bankshares during the 3rd quarter worth about $50,000. Finally, State of Wyoming bought a new stake in First Financial Bankshares during the 2nd quarter worth about $54,000. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Price Performance

FFIN stock opened at $34.67 on Monday. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $38.12. The company has a market cap of $4.97 billion, a P/E ratio of 18.54 and a beta of 0.81. The business has a fifty day moving average of $34.21 and a 200-day moving average of $32.54.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $172.76 million for the quarter, compared to analysts' expectations of $173.03 million. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.During the same quarter last year, the business earned $0.47 earnings per share. As a group, equities research analysts anticipate that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. First Financial Bankshares's dividend payout ratio is presently 47.06%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FFIN shares. Benchmark assumed coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They issued a "buy" rating and a $39.00 target price for the company. Weiss Ratings raised shares of First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.75.

Insider Activity

In other First Financial Bankshares news, Director Murray Hamilton Edwards bought 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the purchase, the director owned 44,634 shares of the company's stock, valued at $1,480,956.12. This trade represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.80% of the company's stock.

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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