Royce & Associates LP Sells 100,620 Shares of First Financial Bankshares, Inc. $FFIN

Key Points

• Royce & Associates cut its stake in First Financial Bankshares by 39%, selling 100,620 shares and ending the period with 157,561 shares worth about $5.30 million (≈0.11% of the company) per its Q3 13F filing.
• Insider buying: Director Geoff Haney bought 10,200 shares at $33.18 (a 46.48% increase to his position); insiders acquired 11,329 shares worth $375,994 over the last quarter and now own 4.22% of the stock.
• First Financial posted Q results with EPS of $0.51 (beating estimates by $0.03) and year-over-year revenue growth of 13.1%, and declared a $0.19 quarterly dividend (annualized $0.76, ~2.5% yield).

Royce & Associates LP lessened its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 39.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,561 shares of the bank's stock after selling 100,620 shares during the period. Royce & Associates LP owned about 0.11% of First Financial Bankshares worth $5,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in First Financial Bankshares by 20.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,320 shares of the bank's stock valued at $78,000 after acquiring an additional 392 shares in the last quarter. Covestor Ltd increased its position in shares of First Financial Bankshares by 14.0% during the third quarter. Covestor Ltd now owns 3,255 shares of the bank's stock valued at $110,000 after purchasing an additional 399 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of First Financial Bankshares by 24.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,064 shares of the bank's stock valued at $70,000 after purchasing an additional 403 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of First Financial Bankshares by 33.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank's stock valued at $60,000 after purchasing an additional 412 shares in the last quarter. Finally, US Bancorp DE lifted its position in First Financial Bankshares by 14.5% in the third quarter. US Bancorp DE now owns 3,253 shares of the bank's stock worth $109,000 after purchasing an additional 412 shares during the period. 69.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Geoff Haney bought 10,200 shares of the business's stock in a transaction dated Friday, February 20th. The stock was bought at an average price of $33.18 per share, for a total transaction of $338,436.00. Following the completion of the purchase, the director owned 32,146 shares of the company's stock, valued at approximately $1,066,604.28. The trade was a 46.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 11,329 shares of company stock worth $375,994 over the last quarter. 4.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $38.00.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $30.48 on Thursday. The stock's fifty day simple moving average is $32.21 and its 200 day simple moving average is $32.76. First Financial Bankshares, Inc. has a one year low of $29.43 and a one year high of $38.74. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 17.22 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The firm had revenue of $164.72 million during the quarter, compared to analyst estimates of $165.70 million. During the same period in the prior year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. First Financial Bankshares's payout ratio is 42.94%.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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