Principal Financial Group Inc. Cuts Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Principal Financial Group Inc. lessened its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,327 shares of the bank’s stock after selling 2,167 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of First Financial Bankshares worth $10,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank increased its holdings in First Financial Bankshares by 32.2% during the 3rd 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. R Squared Ltd purchased a new stake in First Financial Bankshares during the 4th quarter worth about $88,000. US Bancorp DE increased its holdings in First Financial Bankshares by 50.9% during the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock worth $186,000 after purchasing an additional 1,696 shares during the period. KBC Group NV increased its holdings in First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after purchasing an additional 1,819 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in First Financial Bankshares during the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, January 27th.

First Financial Bankshares Stock Performance

FFIN opened at $37.66 on Friday. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66. The company has a market cap of $5.38 billion, a P/E ratio of 24.14 and a beta of 0.83. The business’s 50-day simple moving average is $36.95 and its 200-day simple moving average is $37.68.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.91%. First Financial Bankshares’s payout ratio is currently 46.15%.

Insider Activity

In other news, CEO F Scott Dueser sold 25,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.73, for a total value of $1,018,250.00. Following the transaction, the chief executive officer now owns 471,004 shares in the company, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.22% of the company’s stock.

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.