Smart Money Group LLC Decreases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Smart Money Group LLC decreased its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 25.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 79,448 shares of the bank's stock after selling 26,707 shares during the period. First Financial Bankshares accounts for 2.5% of Smart Money Group LLC's investment portfolio, making the stock its 12th largest position. Smart Money Group LLC owned about 0.06% of First Financial Bankshares worth $2,854,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Investment Research & Advisory Group Inc. purchased a new stake in First Financial Bankshares in the 1st quarter worth approximately $26,000. Fifth Third Bancorp raised its position in shares of First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after buying an additional 441 shares in the last quarter. Assetmark Inc. bought a new stake in First Financial Bankshares during the fourth quarter valued at $33,000. UMB Bank n.a. boosted its stake in First Financial Bankshares by 245.6% during the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock valued at $68,000 after buying an additional 1,353 shares during the period. Finally, GAMMA Investing LLC grew its position in First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after buying an additional 912 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Stock Up 0.5%

NASDAQ:FFIN traded up $0.18 during midday trading on Friday, hitting $37.74. The company had a trading volume of 474,172 shares, compared to its average volume of 536,039. The company has a market capitalization of $5.40 billion, a PE ratio of 23.30 and a beta of 0.87. First Financial Bankshares, Inc. has a 52-week low of $28.35 and a 52-week high of $44.66. The stock's fifty day moving average price is $35.51 and its 200-day moving average price is $35.71.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.43. The firm 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 14.31% and a net margin of 30.01%. As a group, research analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.76 annualized dividend and a yield of 2.01%. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. First Financial Bankshares's dividend payout ratio is currently 46.91%.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director owned 108,708 shares of the company's stock, valued at $3,915,662.16. The trade was a 4.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 6,399 shares of company stock worth $227,646 in the last quarter. 3.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.