First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 150,422 shares of the bank’s stock after selling 5,823 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of First Financial Bankshares worth $5,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lindenwold Advisors INC lifted its stake in First Financial Bankshares by 2.8% in the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock worth $336,000 after acquiring an additional 250 shares in the last quarter. Signaturefd LLC lifted its position in shares of First Financial Bankshares by 5.0% in the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock worth $166,000 after purchasing an additional 270 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after purchasing an additional 296 shares during the period. Ballentine Partners LLC grew its position in First Financial Bankshares by 2.8% during the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock valued at $451,000 after purchasing an additional 333 shares in the last quarter. Finally, Huntington National Bank increased its stake in First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after buying an additional 577 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $40.94 on Friday. The stock has a fifty day moving average price of $38.93 and a two-hundred day moving average price of $35.19. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 28.23 and a beta of 0.81. First Financial Bankshares, Inc. has a 52-week low of $26.54 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $142.10 million for 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%. As a group, research analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s payout ratio is presently 49.66%.

Insiders Place Their Bets

In other news, Director Michael B. Denny sold 7,000 shares of the company’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 directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FFIN. Hovde Group boosted their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Stephens increased their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Truist Financial lifted their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday.

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.