Thrivent Financial for Lutherans Lowers Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Thrivent Financial for Lutherans reduced its position in First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 44,463 shares of the bank’s stock after selling 3,156 shares during the period. Thrivent Financial for Lutherans’ holdings in First Financial Bankshares were worth $1,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. Van ECK Associates Corp grew its stake in shares of First Financial Bankshares by 16.4% during the 4th quarter. Van ECK Associates Corp now owns 4,451 shares of the bank’s stock valued at $153,000 after buying an additional 627 shares during the period. California Public Employees Retirement System grew its stake in shares of First Financial Bankshares by 3.5% during the 4th quarter. California Public Employees Retirement System now owns 305,315 shares of the bank’s stock valued at $10,503,000 after buying an additional 10,368 shares during the period. Swiss National Bank grew its stake in shares of First Financial Bankshares by 1.7% during the 4th quarter. Swiss National Bank now owns 326,900 shares of the bank’s stock valued at $11,245,000 after buying an additional 5,400 shares during the period. Arizona State Retirement System grew its stake in shares of First Financial Bankshares by 3.7% during the 4th quarter. Arizona State Retirement System now owns 38,211 shares of the bank’s stock valued at $1,314,000 after buying an additional 1,366 shares during the period. Finally, Centered Wealth LLC dba Miller Equity Capital Advisors grew its stake in shares of First Financial Bankshares by 2.5% during the 4th quarter. Centered Wealth LLC dba Miller Equity Capital Advisors now owns 48,500 shares of the bank’s stock valued at $1,668,000 after buying an additional 1,200 shares during the period. 53.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com started coverage on shares of First Financial Bankshares in a research note on Thursday. They set a “sell” rating for the company. Piper Sandler reduced their target price on shares of First Financial Bankshares from $28.00 to $26.00 in a report on Friday, April 21st. Truist Financial reduced their target price on shares of First Financial Bankshares from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, March 23rd. Finally, Stephens reduced their target price on shares of First Financial Bankshares from $34.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, April 21st.

Insiders Place Their Bets

In other news, CFO Michelle S. Hickox acquired 3,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were purchased at an average price of $35.46 per share, for a total transaction of $106,380.00. Following the acquisition, the chief financial officer now directly owns 11,000 shares of the company’s stock, valued at approximately $390,060. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michelle S. Hickox bought 3,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was bought at an average price of $35.46 per share, with a total value of $106,380.00. Following the transaction, the chief financial officer now owns 11,000 shares of the company’s stock, valued at $390,060. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Johnny Trotter bought 2,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was bought at an average cost of $34.43 per share, with a total value of $68,860.00. Following the transaction, the director now directly owns 908,557 shares in the company, valued at approximately $31,281,617.51. The disclosure for this purchase can be found here. Insiders have bought 41,733 shares of company stock worth $1,222,342 in the last quarter. 4.11% of the stock is owned by corporate insiders.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $26.23 on Friday. First Financial Bankshares, Inc. has a 12 month low of $25.01 and a 12 month high of $47.26. The firm has a market capitalization of $3.74 billion, a P/E ratio of 16.29 and a beta of 0.73. The company’s fifty day moving average price is $29.49 and its two-hundred day moving average price is $33.58.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.17. First Financial Bankshares’s payout ratio is currently 42.24%.

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.