First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Smart Money Group LLC

Smart Money Group LLC lessened its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,448 shares of the bank's stock after selling 26,707 shares during the quarter. First Financial Bankshares makes up 2.5% of Smart Money Group LLC's holdings, making the stock its 12th biggest position. Smart Money Group LLC owned about 0.06% of First Financial Bankshares worth $2,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in First Financial Bankshares by 2.3% during the fourth quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock worth $480,000 after purchasing an additional 295 shares during the last quarter. Arizona State Retirement System lifted its stake in First Financial Bankshares by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock worth $1,271,000 after acquiring an additional 302 shares during the last quarter. Numerai GP LLC lifted its stake in First Financial Bankshares by 1.8% in the fourth quarter. Numerai GP LLC now owns 18,033 shares of the bank's stock worth $650,000 after acquiring an additional 312 shares during the last quarter. 49 Wealth Management LLC lifted its stake in First Financial Bankshares by 4.7% in the fourth quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock worth $282,000 after acquiring an additional 350 shares during the last quarter. Finally, US Bancorp DE lifted its position 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 worth $195,000 after buying an additional 370 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael B. Denny purchased 5,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were bought at an average cost of $36.02 per share, with a total value of $180,100.00. Following the purchase, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have bought 6,399 shares of company stock worth $227,646. 4.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on FFIN. 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. Hovde Group lowered their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded up $0.18 during trading hours on Friday, reaching $37.74. The company's stock had a trading volume of 474,172 shares, compared to its average volume of 536,039. The stock has a market cap of $5.40 billion, a PE ratio of 23.30 and a beta of 0.87. First Financial Bankshares, Inc. has a fifty-two week low of $28.35 and a fifty-two week high of $44.66. The company's 50-day moving average is $35.51 and its two-hundred day moving average is $35.72.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The firm had revenue of $149.02 million for the quarter, compared to analysts' expectations of $149.48 million. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. Equities analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

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