First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.5% in the fourth quarter, HoldingsChannel reports. The fund owned 45,055 shares of the bank’s stock after selling 2,627 shares during the quarter. Comerica Bank’s holdings in First Financial Bankshares were worth $1,624,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Assetmark Inc. purchased a new position in First Financial Bankshares during the fourth quarter worth approximately $33,000. R Squared Ltd acquired a new position in First Financial Bankshares in the fourth quarter valued at $88,000. Harvest Fund Management Co. Ltd grew its position in 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 valued at $118,000 after acquiring an additional 3,039 shares during the period. KBC Group NV increased its stake in First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after acquiring an additional 1,819 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after purchasing an additional 370 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

First Financial Bankshares Stock Down 0.5 %

FFIN opened at $34.67 on Friday. The firm’s 50 day moving average is $34.28 and its 200-day moving average is $36.91. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The firm has a market capitalization of $4.96 billion, a P/E ratio of 22.22 and a beta of 0.89.

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

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio (DPR) is 46.91%.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 7,099 shares of company stock worth $247,751 in the last three months. 4.22% of the stock is owned by insiders.

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.