Mission Wealth Management LP Lowers Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Mission Wealth Management LP trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 76.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,000 shares of the bank’s stock after selling 32,191 shares during the period. Mission Wealth Management LP’s holdings in First Financial Bankshares were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FFIN. First Command Advisory Services Inc. purchased a new stake in shares of First Financial Bankshares during the third quarter valued at approximately $26,000. Lindbrook Capital LLC boosted its stake in First Financial Bankshares by 134.8% during the 4th quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock valued at $28,000 after purchasing an additional 523 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of First Financial Bankshares in the 3rd quarter worth $40,000. Signaturefd LLC raised its stake in shares of First Financial Bankshares by 35.6% in the third quarter. Signaturefd LLC now owns 2,676 shares of the bank’s stock worth $67,000 after purchasing an additional 703 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of First Financial Bankshares during the third quarter valued at $115,000. 69.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Johnny Trotter acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average cost of $30.22 per share, for a total transaction of $45,330.00. Following the transaction, the director now directly owns 940,371 shares of the company’s stock, valued at $28,418,011.62. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 3,177 shares of company stock worth $95,834 over the last three months. 4.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on FFIN. Truist Financial reduced their price objective on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Stephens decreased their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.33.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $30.76 on Friday. The stock has a market capitalization of $4.39 billion, a PE ratio of 21.97 and a beta of 0.83. First Financial Bankshares, Inc. has a 1-year low of $22.84 and a 1-year high of $33.15. The company’s fifty day simple moving average is $30.88 and its 200-day simple moving average is $29.22.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. As a group, research analysts anticipate that First Financial Bankshares, Inc. will post 1.47 EPS for the current year.

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.