First Financial Bankshares, Inc. (NASDAQ:FFIN) Stake Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFINGet Rating) by 11.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,520 shares of the bank’s stock after selling 2,634 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Financial Bankshares were worth $816,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FFIN. Quadrant Capital Group LLC lifted its stake in First Financial Bankshares by 115.4% during the second quarter. Quadrant Capital Group LLC now owns 754 shares of the bank’s stock valued at $30,000 after buying an additional 404 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in First Financial Bankshares during the third quarter valued at about $38,000. Allworth Financial LP lifted its stake in First Financial Bankshares by 9,673.7% during the second quarter. Allworth Financial LP now owns 1,857 shares of the bank’s stock valued at $73,000 after buying an additional 1,838 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in First Financial Bankshares by 23.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,720 shares of the bank’s stock valued at $107,000 after buying an additional 510 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in First Financial Bankshares during the second quarter valued at about $134,000. 53.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Johnny Trotter acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The shares were purchased at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the completion of the acquisition, the director now owns 902,057 shares of the company’s stock, valued at approximately $33,321,985.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO F Scott Dueser acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The shares were purchased at an average price of $37.59 per share, for a total transaction of $37,590.00. Following the completion of the acquisition, the chief executive officer now owns 940,814 shares of the company’s stock, valued at approximately $35,365,198.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnny Trotter acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the acquisition, the director now directly owns 902,057 shares of the company’s stock, valued at approximately $33,321,985.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 5,306 shares of company stock worth $196,941. Insiders own 4.19% of the company’s stock.

First Financial Bankshares Price Performance

NASDAQ FFIN opened at $34.38 on Monday. The company has a 50 day simple moving average of $35.16 and a 200-day simple moving average of $39.72. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 21.09 and a beta of 0.75. First Financial Bankshares, Inc. has a 52-week low of $32.53 and a 52-week high of $50.43.

First Financial Bankshares (NASDAQ:FFINGet Rating) last posted its quarterly earnings results on Thursday, January 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $132.56 million during the quarter, compared to analyst estimates of $136.32 million. First Financial Bankshares had a net margin of 41.53% and a return on equity of 17.81%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts predict that First Financial Bankshares, Inc. will post 1.68 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. First Financial Bankshares’s dividend payout ratio is currently 41.72%.

Analysts Set New Price Targets

FFIN has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of First Financial Bankshares from $42.00 to $38.00 in a research note on Friday, December 9th. StockNews.com lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Monday, December 12th.

About First Financial Bankshares

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First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.

Further Reading

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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