Quest Partners LLC Decreases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Quest Partners LLC decreased its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 70.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,148 shares of the bank’s stock after selling 9,769 shares during the period. Quest Partners LLC’s holdings in First Financial Bankshares were worth $154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. Thrivent Financial for Lutherans increased its stake in First Financial Bankshares by 27.0% during the third quarter. Thrivent Financial for Lutherans now owns 53,326 shares of the bank’s stock valued at $1,973,000 after purchasing an additional 11,329 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in First Financial Bankshares by 43.2% during the third quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock valued at $14,578,000 after buying an additional 118,830 shares in the last quarter. Natixis Advisors LLC lifted its stake in First Financial Bankshares by 37.5% during the third quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock valued at $22,701,000 after purchasing an additional 167,433 shares during the last quarter. Royce & Associates LP boosted its holdings in First Financial Bankshares by 43.5% during the third quarter. Royce & Associates LP now owns 127,017 shares of the bank’s stock worth $4,701,000 after buying an additional 38,474 shares in the last quarter. Finally, Huntington National Bank grew its position in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after buying an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Down 1.3 %

FFIN opened at $42.03 on Friday. First Financial Bankshares, Inc. has a 12-month low of $25.99 and a 12-month high of $44.66. The firm has a market capitalization of $6.01 billion, a P/E ratio of 28.99 and a beta of 0.78. The stock has a fifty day moving average of $38.55 and a 200-day moving average of $34.85.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The firm had revenue of $142.10 million during the quarter, compared to the consensus estimate of $140.25 million. On average, analysts expect that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.66%.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FFIN. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Stephens boosted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group upped their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st.

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.