Man Group plc Sells 9,754 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Man Group plc cut its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,614 shares of the bank's stock after selling 9,754 shares during the period. Man Group plc owned approximately 0.11% of First Financial Bankshares worth $5,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. boosted its holdings in shares of First Financial Bankshares by 2.3% in the fourth quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock valued at $480,000 after acquiring an additional 295 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of First Financial Bankshares by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock valued at $1,271,000 after acquiring an additional 302 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of First Financial Bankshares by 1.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank's stock valued at $961,000 after acquiring an additional 312 shares in the last quarter. Numerai GP LLC boosted its holdings in shares of First Financial Bankshares by 1.8% in the fourth quarter. Numerai GP LLC now owns 18,033 shares of the bank's stock valued at $650,000 after acquiring an additional 312 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of First Financial Bankshares by 7.4% in the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after acquiring an additional 370 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Johnny Trotter acquired 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $35.12 per share, with a total value of $210,720.00. Following the purchase, the director now owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders bought 7,099 shares of company stock valued at $247,751. Company insiders own 3.96% of the company's stock.

First Financial Bankshares Trading Down 0.8%

FFIN stock traded down $0.26 on Friday, hitting $34.21. 425,120 shares of the company's stock traded hands, compared to its average volume of 545,737. First Financial Bankshares, Inc. has a 1-year low of $27.62 and a 1-year high of $44.66. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 21.93 and a beta of 0.89. The stock has a fifty day moving average of $34.23 and a 200-day moving average of $36.84.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million during the quarter, compared to analyst estimates of $149.48 million. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.22%. First Financial Bankshares's dividend payout ratio (DPR) is currently 46.91%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Hovde Group cut their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

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.