Comerica Bank trimmed its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 68,068 shares of the bank’s stock after selling 1,739 shares during the quarter. Comerica Bank’s holdings in First Financial Bankshares were worth $3,199,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Milestone Group Inc. acquired a new position in shares of First Financial Bankshares during the third quarter worth about $201,000. FDx Advisors Inc. acquired a new position in First Financial Bankshares during the third quarter worth about $390,000. Envestnet Asset Management Inc. grew its position in First Financial Bankshares by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 8,641 shares of the bank’s stock worth $391,000 after buying an additional 2,675 shares during the period. Smith Asset Management Group LP grew its position in First Financial Bankshares by 18.0% during the third quarter. Smith Asset Management Group LP now owns 11,492 shares of the bank’s stock worth $519,000 after buying an additional 1,752 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in First Financial Bankshares during the third quarter worth about $580,000. Institutional investors and hedge funds own 51.89% of the company’s stock.
Several research analysts have weighed in on FFIN shares. Sandler O’Neill restated a “sell” rating and set a $40.00 target price on shares of First Financial Bankshares in a research report on Friday, January 26th. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. BidaskClub lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Hovde Group set a $46.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a research report on Monday, January 29th. Finally, SunTrust Banks restated a “hold” rating and set a $48.00 target price on shares of First Financial Bankshares in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. First Financial Bankshares presently has a consensus rating of “Hold” and an average target price of $44.14.
In other First Financial Bankshares news, Director Johnny Trotter purchased 11,400 shares of the stock in a transaction dated Tuesday, February 6th. The shares were acquired at an average cost of $45.10 per share, for a total transaction of $514,140.00. Following the completion of the transaction, the director now directly owns 388,938 shares of the company’s stock, valued at $17,541,103.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven L. Beal sold 15,973 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $47.37, for a total transaction of $756,641.01. Following the completion of the sale, the director now owns 1,465 shares in the company, valued at $69,397.05. The disclosure for this sale can be found here. 5.40% of the stock is owned by corporate insiders.
First Financial Bankshares Inc (FFIN) opened at $48.00 on Tuesday. First Financial Bankshares Inc has a 1 year low of $36.85 and a 1 year high of $48.85. The firm has a market cap of $3,243.60, a PE ratio of 28.24 and a beta of 1.37.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, January 25th. The bank reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $83.20 million for the quarter, compared to analyst estimates of $90.40 million. First Financial Bankshares had a return on equity of 12.61% and a net margin of 35.72%. research analysts forecast that First Financial Bankshares Inc will post 2.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.58%. First Financial Bankshares’s dividend payout ratio is presently 41.99%.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. The Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, First Financial Insurance Agency, Inc, Abilene, Texas, Commercial Bancshares, Inc, and Commercial State Bank, Kingwood, Texas.
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