Commonwealth Equity Services LLC Sells 2,881 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Commonwealth Equity Services LLC trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 439,995 shares of the bank’s stock after selling 2,881 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.31% of First Financial Bankshares worth $12,993,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC grew its stake in First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares during the 2nd quarter valued at about $29,000. Neo Ivy Capital Management purchased a new position in shares of First Financial Bankshares during the second quarter valued at about $41,000. SYSTM Wealth Solutions LLC increased its holdings in shares of First Financial Bankshares by 17.4% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock worth $88,000 after purchasing an additional 398 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of First Financial Bankshares by 128.9% in the fourth quarter. Quadrant Capital Group LLC now owns 4,888 shares of the bank’s stock worth $148,000 after buying an additional 2,753 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FFIN has been the subject of several research analyst reports. Truist Financial raised their price target on First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Stephens raised 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.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $36.05 on Thursday. The company has a market capitalization of $5.15 billion, a PE ratio of 25.75 and a beta of 0.79. The company has a 50 day moving average price of $34.33 and a 200-day moving average price of $31.78. First Financial Bankshares, Inc. has a fifty-two week low of $22.84 and a fifty-two week high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share 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 firm had revenue of $184.94 million during the quarter, compared to the consensus estimate of $134.10 million. On average, analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 annualized dividend and a dividend yield of 2.00%. First Financial Bankshares’s payout ratio is presently 51.43%.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter acquired 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the purchase, the director now directly owns 943,371 shares of the company’s stock, valued at approximately $26,216,280.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.22% of the company’s stock.

About First Financial Bankshares

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.