1900 Wealth Management LLC Reduces Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

1900 Wealth Management LLC decreased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 50.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,922 shares of the bank’s stock after selling 5,922 shares during the period. 1900 Wealth Management LLC’s holdings in First Financial Bankshares were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock worth $26,000 after acquiring an additional 441 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of First Financial Bankshares during the fourth quarter worth $33,000. UMB Bank n.a. lifted its position in shares of First Financial Bankshares by 245.6% during the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank’s stock worth $68,000 after acquiring an additional 1,353 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of First Financial Bankshares by 89.9% during the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock worth $69,000 after acquiring an additional 912 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after acquiring an additional 3,039 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FFIN shares. Hovde Group dropped their target price on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $35.68 on Tuesday. First Financial Bankshares, Inc. has a 52-week low of $27.69 and a 52-week high of $44.66. The company has a market capitalization of $5.10 billion, a PE ratio of 22.87 and a beta of 0.87. The business’s fifty day moving average is $34.55 and its 200 day moving average is $36.10.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The company had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio is currently 46.91%.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director now directly owns 108,708 shares in the company, valued at $3,915,662.16. The trade was a 4.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 6,399 shares of company stock valued at $227,646 over the last 90 days. 4.22% of the stock is owned by insiders.

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.