Kayne Anderson Rudnick Investment Management LLC Trims Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,441,106 shares of the bank’s stock after selling 1,903,861 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 1.71% of First Financial Bankshares worth $72,086,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC grew its holdings in shares of First Financial Bankshares by 81.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after purchasing an additional 415 shares during the period. Olistico Wealth LLC purchased a new position in First Financial Bankshares during the second quarter worth about $29,000. Neo Ivy Capital Management acquired a new stake in shares of First Financial Bankshares during the second quarter valued at about $41,000. SYSTM Wealth Solutions LLC increased its position in shares of First Financial Bankshares by 17.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after acquiring an additional 398 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in shares of First Financial Bankshares by 6.0% in the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after acquiring an additional 296 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FFIN. Stephens lifted their target price on shares of First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Truist Financial lifted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday.

First Financial Bankshares Stock Down 1.9 %

First Financial Bankshares stock opened at $38.10 on Friday. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $39.53. The firm has a market cap of $5.44 billion, a PE ratio of 27.21 and a beta of 0.78. The company’s 50 day moving average is $36.08 and its two-hundred day moving average is $32.24.

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

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, September 12th. First Financial Bankshares’s payout ratio is presently 51.43%.

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.