Atria Investments Inc Cuts Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Atria Investments Inc lowered its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,691 shares of the bank’s stock after selling 495 shares during the period. Atria Investments Inc’s holdings in First Financial Bankshares were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FFIN. Olistico Wealth LLC acquired a new position in shares of 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 in the second quarter valued at about $41,000. Quarry LP purchased a new stake in shares of First Financial Bankshares during the 2nd quarter valued at about $83,000. Point72 DIFC Ltd acquired a new position in First Financial Bankshares during the 2nd quarter worth approximately $97,000. Finally, Point72 Asset Management L.P. acquired a new stake in First Financial Bankshares in the second quarter valued at approximately $118,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Activity

In related news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares of the company’s stock, 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 SEC, which can be accessed through this link. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $41.43 on Friday. First Financial Bankshares, Inc. has a 12-month low of $25.99 and a 12-month high of $43.57. The stock has a market capitalization of $5.92 billion, a PE ratio of 28.57 and a beta of 0.78. The firm has a 50 day simple moving average of $38.07 and a 200-day simple moving average of $34.45.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. On average, analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.74%. First Financial Bankshares’s payout ratio is currently 49.66%.

Analyst Ratings Changes

A number of research firms have recently commented on FFIN. Truist Financial boosted their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens lifted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Hovde Group boosted their price target on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st.

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.