ProShare Advisors LLC trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Free Report) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 802,129 shares of the bank’s stock after selling 34,340 shares during the quarter. ProShare Advisors LLC owned approximately 0.56% of First Financial Bankshares worth $25,460,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in shares of First Financial Bankshares by 11.2% during the 3rd quarter. Signaturefd LLC now owns 7,042 shares of the bank’s stock worth $224,000 after acquiring an additional 710 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of First Financial Bankshares by 29.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 20,739 shares of the bank’s stock worth $662,000 after purchasing an additional 4,680 shares in the last quarter. Sterling Capital Management LLC increased its position in First Financial Bankshares by 109.9% in the third quarter. Sterling Capital Management LLC now owns 3,485 shares of the bank’s stock worth $111,000 after buying an additional 1,825 shares in the last quarter. Inspire Investing LLC grew its stake in shares of First Financial Bankshares by 1.9% during the 3rd quarter. Inspire Investing LLC now owns 24,211 shares of the bank’s stock valued at $768,000 after acquiring an additional 441 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in First Financial Bankshares in the 3rd quarter worth approximately $34,000. 69.78% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Michael Denny bought 3,245 shares of the company’s stock in a transaction dated Thursday, October 29th. The stock was purchased at an average price of $30.76 per share, for a total transaction of $99,816.20. Following the acquisition, the director owned 9,745 shares in the company, valued at $299,756.20. This trade represents a 49.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.95, for a total value of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. This represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 7,065 shares of company stock valued at $228,495. Company insiders own 3.80% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Raymond James Financial started coverage on shares of First Financial Bankshares in a research note on Wednesday, October 14th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $34.00 target price (down from $35.00) on shares of First Financial Bankshares in a research report on Friday, October 16th. Hovde Group assumed coverage on First Financial Bankshares in a research note on Friday, September 11th. They issued a “market perform” rating and a $36.00 price objective on the stock. Weiss Ratings cut First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Finally, Cantor Fitzgerald lowered their target price on First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.20.
Get Our Latest Stock Report on FFIN
First Financial Bankshares Trading Up 2.8%
Shares of NASDAQ:FFIN opened at $31.44 on Tuesday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 14.93 and a beta of 0.82. First Financial Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $36.52. The company has a 50-day moving average price of $31.97 and a 200 day moving average price of $32.50.
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The company had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $178.63 million. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current year.
First Financial Bankshares Profile
First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.
First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.
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