Prudential Financial Inc. Sells 11,544 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Prudential Financial Inc. decreased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 47.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,002 shares of the bank's stock after selling 11,544 shares during the period. Prudential Financial Inc.'s holdings in First Financial Bankshares were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in shares of First Financial Bankshares by 71.9% during the 3rd quarter. FMR LLC now owns 113,407 shares of the bank's stock worth $4,197,000 after buying an additional 47,417 shares during the period. Captrust Financial Advisors bought a new position in First Financial Bankshares during the third quarter worth $205,000. HighTower Advisors LLC grew its holdings in First Financial Bankshares by 18.4% in the third quarter. HighTower Advisors LLC now owns 61,345 shares of the bank's stock worth $2,274,000 after purchasing an additional 9,519 shares during the period. Stifel Financial Corp increased its stake in First Financial Bankshares by 0.5% in the third quarter. Stifel Financial Corp now owns 198,321 shares of the bank's stock valued at $7,340,000 after purchasing an additional 974 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank's stock valued at $231,381,000 after purchasing an additional 281,166 shares during the period. Institutional investors own 69.78% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a research note on Monday, January 27th.

First Financial Bankshares Stock Up 1.9 %

FFIN stock traded up $0.60 during midday trading on Tuesday, reaching $32.34. 38,847 shares of the company's stock traded hands, compared to its average volume of 532,998. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 20.73 and a beta of 0.82. The firm's fifty day moving average price is $35.72 and its 200-day moving average price is $37.35.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, March 14th. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

Insider Activity

In related news, Director Johnny Trotter purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the transaction, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.22% of the company's stock.

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.