Diversified Trust Co Sells 5,324 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Diversified Trust Co lowered its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 15.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,139 shares of the bank’s stock after selling 5,324 shares during the quarter. Diversified Trust Co’s holdings in First Financial Bankshares were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. Intech Investment Management LLC purchased a new position in shares of First Financial Bankshares during the third quarter valued at approximately $673,000. State Street Corp increased its stake in shares of First Financial Bankshares by 4.7% during the third quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock valued at $231,381,000 after buying an additional 281,166 shares during the period. Bridges Investment Management Inc. purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $637,000. Citigroup Inc. increased its stake in shares of First Financial Bankshares by 27.0% during the third quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock valued at $9,273,000 after buying an additional 53,195 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in shares of First Financial Bankshares by 43.2% during the third quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock valued at $14,578,000 after buying an additional 118,830 shares during the period. Institutional investors own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FFIN shares. Hovde Group boosted their target price 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. Stephens boosted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their target price on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial upped their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th.

First Financial Bankshares Stock Up 1.1 %

Shares of FFIN stock opened at $36.01 on Thursday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 24.83 and a beta of 0.81. The business’s fifty day moving average is $39.33 and its 200 day moving average is $36.66. First Financial Bankshares, Inc. has a twelve month low of $27.06 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting 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 company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is 49.66%.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction 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 sale, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO F Scott Dueser sold 25,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 471,004 shares in the company, valued at $19,183,992.92. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.22% of the company’s stock.

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.