Cullen Frost Bankers Inc. Trims Holdings in First Financial Bankshares, Inc. $FFIN

Cullen Frost Bankers Inc. trimmed its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 32.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 39,562 shares of the bank’s stock after selling 19,200 shares during the period. Cullen Frost Bankers Inc.’s holdings in First Financial Bankshares were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FFIN. Olistico Wealth LLC purchased a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $30,000. Quarry LP raised its stake in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares during the period. Danske Bank A S raised its stake in shares of First Financial Bankshares by 200.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 800 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of First Financial Bankshares in the 3rd quarter valued at approximately $50,000. Finally, State of Wyoming purchased a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $54,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Stock Up 0.3%

NASDAQ FFIN opened at $32.19 on Friday. The firm has a 50 day moving average of $30.93 and a two-hundred day moving average of $31.42. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $38.74. The stock has a market capitalization of $4.61 billion, a PE ratio of 17.49 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The business had revenue of $166.89 million during the quarter, compared to analysts’ expectations of $166.78 million. During the same quarter in the prior year, the business posted $0.43 EPS. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a $0.22 dividend. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, June 12th. This represents a $0.88 annualized dividend and a yield of 2.7%. First Financial Bankshares’s payout ratio is currently 41.30%.

Insider Transactions at First Financial Bankshares

In other news, CFO Michelle S. Hickox acquired 1,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $29.50 per share, for a total transaction of $29,500.00. Following the transaction, the chief financial officer owned 11,861 shares in the company, valued at $349,899.50. This represents a 9.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Johnny Trotter acquired 1,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $29.26 per share, with a total value of $29,260.00. Following the transaction, the director owned 956,444 shares in the company, valued at $27,985,551.44. The trade was a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,964 shares of company stock worth $326,287 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on FFIN shares. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.33.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.