First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 850,839 shares of the bank's stock after selling 93,276 shares during the quarter. Bank of America Corp DE owned about 0.60% of First Financial Bankshares worth $30,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FFIN. Barclays PLC lifted its position in First Financial Bankshares by 83.0% during the 3rd quarter. Barclays PLC now owns 289,468 shares of the bank's stock worth $10,714,000 after acquiring an additional 131,259 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $603,000. Ballentine Partners LLC lifted its holdings in shares of First Financial Bankshares by 3.9% in the 4th quarter. Ballentine Partners LLC now owns 12,665 shares of the bank's stock valued at $457,000 after buying an additional 475 shares during the period. Blue Trust Inc. lifted its holdings in shares of First Financial Bankshares by 1.8% in the 4th quarter. Blue Trust Inc. now owns 36,788 shares of the bank's stock valued at $1,362,000 after buying an additional 665 shares during the period. Finally, KBC Group NV lifted its holdings in shares of First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock valued at $195,000 after buying an additional 1,819 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter acquired 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the purchase, the director now directly owns 949,371 shares of the company's stock, valued at approximately $33,341,909.52. This trade represents a 0.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders bought 7,099 shares of company stock valued at $247,751 in the last ninety days. Corporate insiders own 4.22% of the company's stock.

Analyst Ratings Changes

FFIN has been the subject of several recent analyst reports. 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. Keefe, Bruyette & Woods reduced their price target on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

First Financial Bankshares Price Performance

FFIN opened at $35.86 on Friday. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66. The stock has a market capitalization of $5.13 billion, a P/E ratio of 22.99 and a beta of 0.89. The business has a 50 day simple moving average of $34.28 and a 200-day simple moving average of $36.89.

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

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, June 16th. First Financial Bankshares's dividend payout ratio (DPR) is presently 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.

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