Thrivent Financial for Lutherans Increases Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Thrivent Financial for Lutherans grew its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 27.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 53,326 shares of the bank’s stock after acquiring an additional 11,329 shares during the period. Thrivent Financial for Lutherans’ holdings in First Financial Bankshares were worth $1,973,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in First Financial Bankshares by 5.0% during 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 First Financial Bankshares by 6.0% during 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. Ballentine Partners LLC grew its position in First Financial Bankshares by 2.8% in the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock valued at $451,000 after acquiring an additional 333 shares in the last quarter. Huntington National Bank increased its stake in First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after purchasing an additional 577 shares during the period. Finally, Diversified Trust Co increased its stake in First Financial Bankshares by 3.0% during the second quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock worth $865,000 after purchasing an additional 865 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares Stock Down 1.3 %

Shares of First Financial Bankshares stock opened at $42.03 on Friday. First Financial Bankshares, Inc. has a 52-week low of $25.99 and a 52-week high of $44.66. The company has a 50 day moving average of $38.55 and a 200 day moving average of $34.85. The company has a market capitalization of $6.01 billion, a P/E ratio of 28.99 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate 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 anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s payout ratio is 49.66%.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of research reports. Stephens lifted 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 report on Friday, October 18th. Truist Financial boosted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Hovde Group increased their price objective 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.

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.