First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 75.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,893 shares of the bank's stock after selling 497,770 shares during the quarter. Millennium Management LLC owned 0.12% of First Financial Bankshares worth $5,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of FFIN. Vanguard Group Inc. lifted its holdings in First Financial Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank's stock valued at $508,146,000 after buying an additional 110,923 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after buying an additional 2,730,017 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Financial Bankshares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock worth $92,733,000 after purchasing an additional 42,280 shares during the last quarter. Northern Trust Corp grew its position in First Financial Bankshares by 8.1% during the 4th quarter. Northern Trust Corp now owns 1,776,607 shares of the bank's stock worth $64,047,000 after purchasing an additional 133,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in First Financial Bankshares by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock valued at $61,494,000 after acquiring an additional 4,608 shares during the period. Institutional investors own 69.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FFIN shares. Keefe, Bruyette & Woods decreased 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. Hovde Group dropped 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 report on Monday, April 21st.

Insider Activity

In related news, Director Johnny Trotter acquired 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 7,399 shares of company stock valued at $258,266 over the last quarter. Corporate insiders own 4.22% of the company's stock.

First Financial Bankshares Stock Down 0.1%

FFIN stock traded down $0.02 during mid-day trading on Friday, hitting $35.36. 955,209 shares of the company were exchanged, compared to its average volume of 550,411. The firm has a market capitalization of $5.06 billion, a P/E ratio of 22.67 and a beta of 0.89. The business has a fifty day simple moving average of $34.12 and a 200-day simple moving average of $36.60. First Financial Bankshares, Inc. has a 12-month low of $27.62 and a 12-month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly 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 29.69% and a return on equity of 14.24%. The company had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. Research analysts predict 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 will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a $0.19 dividend. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.15%. First Financial Bankshares's payout ratio is presently 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.