First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC sold 24,037 shares of First Financial Bankshares, reducing its holdings by 4.0%, and now owns 581,232 shares valued at approximately $20.88 million.
• Insider buying activity includes Director Michael B. Denny, who purchased 5,000 shares at an average price of $36.02, representing a 4.82% increase in his ownership.
• First Financial Bankshares plans to pay a quarterly dividend of $0.19 per share on October 1st, with a yield of 2.2% and a payout ratio of 44.19%.

Natixis Advisors LLC decreased its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,232 shares of the bank's stock after selling 24,037 shares during the quarter. Natixis Advisors LLC owned 0.41% of First Financial Bankshares worth $20,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in First Financial Bankshares in the fourth quarter worth about $47,757,000. Raymond James Financial Inc. bought a new stake in First Financial Bankshares during the 4th quarter valued at approximately $8,341,000. JPMorgan Chase & Co. increased its stake in First Financial Bankshares by 48.9% in the 4th quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank's stock worth $24,777,000 after acquiring an additional 225,574 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of First Financial Bankshares by 1,719.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 209,498 shares of the bank's stock valued at $7,552,000 after purchasing an additional 197,986 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in First Financial Bankshares by 1,180.5% during the 1st quarter. Federated Hermes Inc. now owns 170,479 shares of the bank's stock valued at $6,124,000 after acquiring an additional 157,166 shares during the period. Hedge funds and other institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded down $0.25 during trading on Wednesday, reaching $34.07. 163,994 shares of the company's stock were exchanged, compared to its average volume of 532,081. The stock has a market cap of $4.87 billion, a P/E ratio of 19.79 and a beta of 0.87. The company has a 50 day moving average price of $36.17 and a two-hundred day moving average price of $35.74. First Financial Bankshares, Inc. has a 1 year low of $30.58 and a 1 year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. The business had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. During the same period in the previous year, the business earned $0.37 EPS. Research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.2%. First Financial Bankshares's dividend payout ratio is currently 44.19%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FFIN. Keefe, Bruyette & Woods upped their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Hovde Group upped their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday, July 21st.

Insider Buying and Selling

In related news, Director Michael B. Denny acquired 5,000 shares of First Financial Bankshares stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the purchase, the director directly owned 108,708 shares in the company, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 5,850 shares of company stock worth $210,839. 3.96% of the stock is owned by corporate insiders.

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.