Susquehanna International Group LLP Trims Stock Position in First Financial Bankshares, Inc. $FFIN

Key Points

• Susquehanna International Group reduced its First Financial Bankshares stake by 79.7% in the second quarter, selling 75,733 shares and retaining 19,265 shares worth approximately $667,000. Institutional investors collectively own 69.78% of the company.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $36.40, compared with a recent share price of $33.23.
• First Financial Bankshares reported quarterly EPS of $0.50, matching estimates, and announced a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 payout and a 2.6% yield.

Susquehanna International Group LLP cut its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 79.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,265 shares of the bank's stock after selling 75,733 shares during the period. Susquehanna International Group LLP's holdings in First Financial Bankshares were worth $667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FFIN. Quarry LP grew its holdings in shares of First Financial Bankshares by 66.3% during the 3rd quarter. Quarry LP now owns 1,026 shares of the bank's stock worth $35,000 after purchasing an additional 409 shares during the period. Danske Bank A S boosted its stake in First Financial Bankshares by 200.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after buying an additional 800 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of First Financial Bankshares during the fourth quarter valued at about $44,000. CIBC Private Wealth Group LLC purchased a new stake in shares of First Financial Bankshares in the 3rd quarter valued at approximately $50,000. Finally, State of Wyoming acquired a new position in shares of First Financial Bankshares in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FFIN shares. Weiss Ratings raised First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Cantor Fitzgerald reissued a "neutral" rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Benchmark began coverage on First Financial Bankshares in a research report on Wednesday, June 24th. They issued a "buy" rating and a $39.00 target price for the company. Finally, Piper Sandler began coverage on shares of First Financial Bankshares in a research report on Thursday. They set a "neutral" rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Insider Activity

In other news, CAO Ronald David Butler II sold 15,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the sale, the chief accounting officer owned 152,223 shares of the company's stock, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Denny purchased 3,000 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was bought at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the purchase, the director directly owned 6,500 shares of the company's stock, valued at $225,290. The trade was a 85.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 4,700 shares of company stock worth $161,583. 3.80% of the stock is currently owned by insiders.

First Financial Bankshares Stock Down 0.5%

Shares of NASDAQ:FFIN opened at $33.23 on Tuesday. The firm's 50 day moving average price is $34.65 and its 200 day moving average price is $32.68. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 17.77 and a beta of 0.81. First Financial Bankshares, Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $37.83.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting analysts' consensus estimates of $0.50. The company had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities analysts anticipate that First Financial Bankshares, Inc. will post 2.05 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 14th. First Financial Bankshares's dividend payout ratio is currently 47.06%.

First Financial Bankshares Company Profile

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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