First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 22.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 15,193 shares of the bank’s stock after selling 4,376 shares during the period. PNC Financial Services Group Inc.’s holdings in First Financial Bankshares were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. First Financial Bankshares Inc acquired a new position in First Financial Bankshares during the 4th quarter worth approximately $553,577,000. Norges Bank purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at approximately $42,435,000. Natixis Advisors L.P. boosted its stake in shares of First Financial Bankshares by 39.7% during the 4th quarter. Natixis Advisors L.P. now owns 447,970 shares of the bank’s stock valued at $13,573,000 after buying an additional 127,397 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of First Financial Bankshares by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock valued at $438,306,000 after buying an additional 120,252 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of First Financial Bankshares by 98.5% during the 4th quarter. UBS Group AG now owns 239,068 shares of the bank’s stock valued at $7,244,000 after buying an additional 118,623 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FFIN shares. Stephens reduced their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Truist Financial reduced their target price on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.33.

First Financial Bankshares Price Performance

Shares of FFIN opened at $29.00 on Friday. The business’s fifty day moving average price is $29.76 and its 200 day moving average price is $30.30. First Financial Bankshares, Inc. has a 12-month low of $22.84 and a 12-month high of $33.15. The stock has a market capitalization of $4.14 billion, a PE ratio of 20.71 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The firm had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that First Financial Bankshares, Inc. will post 1.48 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Insider Buying and Selling

In related news, Director Sally Pope Davis bought 1,800 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average cost of $28.75 per share, with a total value of $51,750.00. Following the completion of the transaction, the director now directly owns 1,800 shares of the company’s stock, valued at $51,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Johnny Trotter bought 1,500 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $30.22 per share, with a total value of $45,330.00. Following the completion of the transaction, the director now directly owns 940,371 shares of the company’s stock, valued at $28,418,011.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sally Pope Davis bought 1,800 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $28.75 per share, for a total transaction of $51,750.00. Following the completion of the transaction, the director now directly owns 1,800 shares of the company’s stock, valued at $51,750. The disclosure for this purchase can be found here. Insiders have bought 6,743 shares of company stock worth $199,526 over the last ninety days. 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.