NFJ Investment Group LLC Sells 21,336 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

NFJ Investment Group LLC reduced its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 584,420 shares of the bank's stock after selling 21,336 shares during the quarter. NFJ Investment Group LLC owned about 0.41% of First Financial Bankshares worth $21,068,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FFIN. Assetmark Inc. bought a new stake in First Financial Bankshares in the 4th quarter valued at about $33,000. R Squared Ltd acquired a new stake in shares of First Financial Bankshares in the 4th quarter worth approximately $88,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of 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 acquiring an additional 3,039 shares in the last quarter. KBC Group NV raised its holdings in First Financial Bankshares by 50.5% during the fourth 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 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 valued at $195,000 after purchasing an additional 370 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on FFIN shares. Keefe, Bruyette & Woods cut their target price on shares of First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating for the company in a research note on Monday. Hovde Group cut their target price 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.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock traded down $0.04 during midday trading on Monday, reaching $32.64. 141,014 shares of the company's stock traded hands, compared to its average volume of 540,938. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 20.92 and a beta of 0.82. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66. The company's 50 day simple moving average is $35.30 and its 200 day simple moving average is $37.25.

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. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The business had revenue of $149.02 million for the quarter, compared to analyst estimates of $149.48 million. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.21%. First Financial Bankshares's dividend payout ratio is presently 46.15%.

Insider Activity

In related news, Director Johnny Trotter bought 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the transaction, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents 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. 3.96% of the stock is owned by company insiders.

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.