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

Rafferty Asset Management LLC reduced its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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.

A number of other large investors have also made changes to their positions in FFIN. Federated Hermes Inc. grew its position in First Financial Bankshares by 2.3% during the 4th quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock worth $480,000 after purchasing an additional 295 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of First Financial Bankshares by 0.9% during the fourth quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock valued at $1,271,000 after buying an additional 302 shares in the last quarter. Kingsview Wealth Management LLC raised its position in First Financial Bankshares by 1.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank's stock valued at $961,000 after buying an additional 312 shares during the period. Numerai GP LLC raised its position in First Financial Bankshares by 1.8% during the fourth quarter. Numerai GP LLC now owns 18,033 shares of the bank's stock valued at $650,000 after buying an additional 312 shares during the period. Finally, US Bancorp DE lifted its stake in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock worth $195,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

First Financial Bankshares Trading Down 0.4%

Shares of FFIN traded down $0.13 during mid-day trading on Friday, hitting $34.34. 145,334 shares of the company traded hands, compared to its average volume of 543,809. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 22.03 and a beta of 0.89. The business has a 50-day moving average of $34.26 and a 200 day moving average of $36.85. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The business had revenue of $149.02 million during the quarter, compared to analysts' expectations of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, June 16th. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's payout ratio is currently 46.91%.

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.