Nuveen Asset Management LLC Has $39.44 Million Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Nuveen Asset Management LLC lessened its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,094,146 shares of the bank's stock after selling 165,746 shares during the period. Nuveen Asset Management LLC owned approximately 0.77% of First Financial Bankshares worth $39,444,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FFIN. Assetmark Inc. bought a new position in shares of First Financial Bankshares during the 4th quarter valued at about $33,000. R Squared Ltd bought a new position in shares of First Financial Bankshares during the 4th quarter valued at about $88,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after purchasing an additional 3,039 shares in the last quarter. KBC Group NV lifted its holdings in shares of First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock valued at $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after purchasing an additional 370 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FFIN shares. Keefe, Bruyette & Woods cut their price objective on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Hovde Group dropped their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the stock in a transaction 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 transaction, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 7,099 shares of company stock valued at $247,751 in the last 90 days. 3.96% of the stock is currently owned by insiders.

First Financial Bankshares Stock Performance

First Financial Bankshares stock traded down $0.26 during midday trading on Friday, reaching $34.21. The stock had a trading volume of 425,120 shares, compared to its average volume of 545,737. The firm's fifty day simple moving average is $34.23 and its 200-day simple moving average is $36.84. 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 capitalization of $4.89 billion, a P/E ratio of 21.93 and a beta of 0.89.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The business had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.19 per share. This is a positive change 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 2.22%. First Financial Bankshares's payout ratio is 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.