JPMorgan Chase & Co. Sells 82,615 Shares of First Financial Bankshares, Inc. $FFIN

JPMorgan Chase & Co. cut its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 19.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 336,753 shares of the bank’s stock after selling 82,615 shares during the period. JPMorgan Chase & Co.’s holdings in First Financial Bankshares were worth $12,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ballentine Partners LLC boosted its position in First Financial Bankshares by 2.2% in the second quarter. Ballentine Partners LLC now owns 13,358 shares of the bank’s stock worth $481,000 after purchasing an additional 293 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of First Financial Bankshares by 47.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock valued at $45,000 after purchasing an additional 404 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of First Financial Bankshares by 33.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock valued at $60,000 after purchasing an additional 412 shares during the last quarter. Blue Trust Inc. raised its stake in shares of First Financial Bankshares by 1.5% during the 2nd quarter. Blue Trust Inc. now owns 32,527 shares of the bank’s stock worth $1,170,000 after purchasing an additional 481 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of First Financial Bankshares by 1.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 36,439 shares of the bank’s stock worth $1,311,000 after buying an additional 536 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, October 24th. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research note on Monday, October 27th. Cantor Fitzgerald assumed coverage on shares of First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, First Financial Bankshares presently has a consensus rating of “Hold” and an average target price of $38.00.

Insider Buying and Selling at First Financial Bankshares

In related news, CFO Michelle S. Hickox acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average cost of $31.15 per share, for a total transaction of $62,300.00. Following the purchase, the chief financial officer owned 24,461 shares in the company, valued at $761,960.15. This trade represents a 8.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis bought 1,700 shares of the business’s stock in a transaction on Friday, October 31st. The stock was bought at an average price of $30.73 per share, with a total value of $52,241.00. Following the purchase, the director owned 6,971 shares in the company, valued at $214,218.83. This trade represents a 32.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 4,353 shares of company stock valued at $134,888. 3.96% of the stock is owned by company insiders.

First Financial Bankshares Stock Down 1.7%

FFIN opened at $31.06 on Monday. The firm has a 50-day moving average price of $31.74 and a 200-day moving average price of $34.46. First Financial Bankshares, Inc. has a twelve month low of $29.80 and a twelve month high of $41.83. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 18.38 and a beta of 0.85.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Friday, October 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The business had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.21 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a $0.19 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. First Financial Bankshares’s payout ratio is 44.97%.

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.