Truist Financial Corp Sells 2,752 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Truist Financial Corp reduced its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 20.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,016 shares of the bank’s stock after selling 2,752 shares during the quarter. Truist Financial Corp’s holdings in First Financial Bankshares were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FFIN. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares in the 2nd quarter worth $29,000. Hexagon Capital Partners LLC boosted its holdings in First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of First Financial Bankshares during the 2nd quarter worth about $41,000. Quarry LP bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at about $83,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $97,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $38.40 on Friday. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 27.43 and a beta of 0.78. The business has a 50 day simple moving average of $36.44 and a 200 day simple moving average of $32.99. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $184.94 million during the quarter, compared to the consensus estimate of $134.10 million. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. On average, analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 12th. First Financial Bankshares’s dividend payout ratio is 51.43%.

Wall Street Analyst Weigh In

FFIN has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th. Stephens upped their price objective on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday.

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.