Rafferty Asset Management LLC Sells 41,920 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Rafferty Asset Management LLC trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,868 shares of the bank's stock after selling 41,920 shares during the period. Rafferty Asset Management LLC owned about 0.07% of First Financial Bankshares worth $3,564,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in First Financial Bankshares by 83.0% during the third quarter. Barclays PLC now owns 289,468 shares of the bank's stock worth $10,714,000 after buying an additional 131,259 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in First Financial Bankshares during the fourth quarter worth approximately $402,000. Atria Wealth Solutions Inc. boosted its holdings in First Financial Bankshares by 26.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 43,335 shares of the bank's stock worth $1,567,000 after buying an additional 9,056 shares in the last quarter. Van ECK Associates Corp bought a new stake in First Financial Bankshares during the fourth quarter worth approximately $3,504,000. Finally, Garrett Wealth Advisory Group LLC boosted its holdings in First Financial Bankshares by 38.6% during the fourth quarter. Garrett Wealth Advisory Group LLC now owns 53,493 shares of the bank's stock worth $1,928,000 after buying an additional 14,900 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Insider Activity at First Financial Bankshares

In related news, Director Johnny Trotter bought 6,000 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the transaction, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. This represents a 0.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders bought 7,099 shares of company stock worth $247,751. 3.96% of the stock is owned by corporate insiders.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN traded down $0.26 during mid-day trading on Friday, hitting $34.21. The stock had a trading volume of 425,120 shares, compared to its average volume of 546,559. The company has a market cap of $4.89 billion, a PE ratio of 21.93 and a beta of 0.89. First Financial Bankshares, Inc. has a 12-month low of $27.62 and a 12-month high of $44.66. The company's 50 day moving average is $34.23 and its 200-day moving average is $36.80.

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

First Financial Bankshares Increases Dividend

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

Analysts Set New Price Targets

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

First Financial Bankshares Company 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.