Citigroup Inc. Buys 53,195 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Citigroup Inc. grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 27.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 250,553 shares of the bank’s stock after purchasing an additional 53,195 shares during the period. Citigroup Inc.’s holdings in First Financial Bankshares were worth $9,273,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new position in First Financial Bankshares during the 2nd quarter valued at about $29,000. Neo Ivy Capital Management bought a new position in shares of First Financial Bankshares during the second quarter valued at approximately $41,000. Quarry LP purchased a new stake in shares of First Financial Bankshares in the second quarter worth approximately $83,000. Huntington National Bank lifted its stake in shares of 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 acquiring an additional 577 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in First Financial Bankshares during the 2nd quarter valued at $97,000. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Down 0.8 %

Shares of FFIN stock opened at $41.68 on Friday. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $44.66. The stock has a fifty day simple moving average of $38.62 and a two-hundred day simple moving average of $34.92. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 28.74 and a beta of 0.78.

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

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.73%. First Financial Bankshares’s dividend payout ratio is presently 49.66%.

Analyst Upgrades and Downgrades

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

Insider Activity at First Financial Bankshares

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

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.