Principal Financial Group Inc. Sells 134,623 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Principal Financial Group Inc. trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 30.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,494 shares of the bank’s stock after selling 134,623 shares during the period. Principal Financial Group Inc. owned about 0.21% of First Financial Bankshares worth $11,158,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in shares of First Financial Bankshares during the 2nd quarter worth $29,000. Neo Ivy Capital Management bought a new stake in shares of First Financial Bankshares during the 2nd quarter worth $41,000. Quarry LP bought a new stake in shares of First Financial Bankshares during the 2nd quarter worth $83,000. Point72 DIFC Ltd bought a new stake in shares of First Financial Bankshares during the 2nd quarter worth $97,000. Finally, Point72 Asset Management L.P. purchased a new stake in First Financial Bankshares in the 2nd quarter worth about $118,000. 69.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Down 0.1 %

FFIN stock opened at $41.34 on Monday. The firm has a market capitalization of $5.91 billion, a PE ratio of 28.51 and a beta of 0.78. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $43.57. The stock has a 50-day simple moving average of $37.65 and a two-hundred day simple moving average of $34.21.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s payout ratio is presently 49.66%.

Analysts Set New Price Targets

FFIN has been the subject of several recent research reports. Stephens lifted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Truist Financial lifted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Hovde Group lifted their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st.

First Financial Bankshares 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.