Kayne Anderson Rudnick Investment Management LLC Sells 34,539 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,813,199 shares of the bank's stock after selling 34,539 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 1.27% of First Financial Bankshares worth $65,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FFIN. Assetmark Inc. acquired a new position in First Financial Bankshares in the fourth quarter valued at approximately $33,000. R Squared Ltd acquired a new stake in First Financial Bankshares in the fourth quarter worth $88,000. Harvest Fund Management Co. Ltd increased its stake in First Financial Bankshares by 1,497.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after purchasing an additional 3,039 shares in the last quarter. KBC Group NV boosted its position in shares of First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank's stock worth $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, US Bancorp DE increased its position in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank's stock valued at $195,000 after buying an additional 370 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Trading Down 1.2 %

Shares of NASDAQ:FFIN traded down $0.41 during trading on Friday, reaching $33.37. 350,373 shares of the company traded hands, compared to its average volume of 543,820. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.39 and a beta of 0.82. The business's fifty day moving average is $34.89 and its 200-day moving average is $37.14.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's payout ratio is 44.44%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter purchased 6,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 7,041 shares of company stock valued at $247,992 over the last quarter. 4.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FFIN shares. Hovde Group decreased their price objective 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 cut their price target on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

First Financial Bankshares Company 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.