First Financial Bankshares, Inc. $FFIN Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in First Financial Bankshares by 2.8%, owning approximately 1.21% of the company, valued at $62.01 million.
• First Financial Bankshares announced a quarterly dividend of $0.19 to be paid on October 1st, yielding 2.0% annually with a payout ratio of 44.19%.
• Analysts currently have a consensus rating of "Hold" on First Financial Bankshares, with a price target increased to $39.25.

Northern Trust Corp reduced its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,726,190 shares of the bank's stock after selling 50,417 shares during the period. Northern Trust Corp owned approximately 1.21% of First Financial Bankshares worth $62,005,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State of Michigan Retirement System grew its stake in shares of First Financial Bankshares by 1.0% in the first quarter. State of Michigan Retirement System now owns 30,763 shares of the bank's stock valued at $1,105,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of First Financial Bankshares by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the bank's stock worth $1,293,000 after acquiring an additional 300 shares in the last quarter. Numerai GP LLC lifted its stake 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 worth $650,000 after acquiring an additional 312 shares in the last quarter. 49 Wealth Management LLC lifted its stake in shares of First Financial Bankshares by 4.7% in the fourth quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock worth $282,000 after acquiring an additional 350 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of First Financial Bankshares by 6.8% in the first quarter. KBC Group NV now owns 5,792 shares of the bank's stock worth $208,000 after acquiring an additional 370 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Down 0.5%

FFIN traded down $0.20 on Friday, hitting $37.17. 448,813 shares of the company's stock were exchanged, compared to its average volume of 578,618. The firm has a market cap of $5.32 billion, a PE ratio of 21.61 and a beta of 0.87. First Financial Bankshares, Inc. has a twelve month low of $30.58 and a twelve month high of $44.66. The stock has a fifty day moving average of $36.22 and a two-hundred day moving average of $35.52.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently announced 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. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. First Financial Bankshares's payout ratio is presently 44.19%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FFIN shares. Hovde Group boosted their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target 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. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.25.

Insider Transactions at First Financial Bankshares

In other news, Director Michael B. Denny bought 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 of the company's stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.22% of the stock is owned by insiders.

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.