Prudential Financial Inc. Cuts Holdings in First Financial Bankshares Inc (FFIN)

Prudential Financial Inc. lessened its holdings in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 112,912 shares of the bank’s stock after selling 1,200 shares during the period. Prudential Financial Inc.’s holdings in First Financial Bankshares were worth $6,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Partnervest Advisory Services LLC purchased a new stake in shares of First Financial Bankshares in the third quarter worth about $204,000. Parametrica Management Ltd purchased a new stake in shares of First Financial Bankshares in the third quarter worth about $224,000. OppenheimerFunds Inc. purchased a new stake in shares of First Financial Bankshares in the second quarter worth about $228,000. Stephens Inc. AR purchased a new stake in shares of First Financial Bankshares in the second quarter worth about $240,000. Finally, New England Asset Management Inc. purchased a new stake in shares of First Financial Bankshares in the second quarter worth about $307,000. Hedge funds and other institutional investors own 54.33% of the company’s stock.

A number of brokerages have recently issued reports on FFIN. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, November 19th. BidaskClub raised shares of First Financial Bankshares from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $51.71.

Shares of First Financial Bankshares stock opened at $61.67 on Friday. First Financial Bankshares Inc has a 12-month low of $44.05 and a 12-month high of $66.83. The stock has a market capitalization of $4.12 billion, a PE ratio of 30.09 and a beta of 1.14.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The firm had revenue of $96.48 million for the quarter, compared to the consensus estimate of $97.34 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts predict that First Financial Bankshares Inc will post 2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.41%.

In related news, Director Johnny Trotter bought 2,000 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The shares were acquired at an average cost of $55.65 per share, with a total value of $111,300.00. Following the completion of the purchase, the director now directly owns 384,926 shares of the company’s stock, valued at approximately $21,421,131.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.77% of the company’s stock.

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About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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