First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 28.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,826 shares of the bank’s stock after selling 53,227 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.09% of First Financial Bankshares worth $4,752,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC raised its holdings in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock valued at $101,222,000 after buying an additional 2,730,017 shares during the period. Norges Bank purchased a new stake in shares of First Financial Bankshares during the 4th quarter valued at $47,757,000. Axiom Investors LLC DE acquired a new position in shares of First Financial Bankshares during the 4th quarter valued at $16,937,000. Raymond James Financial Inc. purchased a new stake in shares of First Financial Bankshares during the fourth quarter worth about $8,341,000. Finally, JPMorgan Chase & Co. grew its stake in First Financial Bankshares by 48.9% in the fourth quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock worth $24,777,000 after purchasing an additional 225,574 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FFIN shares. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Hovde Group decreased their price target on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Monday, April 21st.

First Financial Bankshares Price Performance

FFIN stock opened at $33.49 on Tuesday. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The company’s 50-day moving average is $34.81 and its 200-day moving average is $37.13. The stock has a market capitalization of $4.79 billion, a PE ratio of 21.47 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The company had revenue of $149.02 million for the quarter, compared to analysts’ expectations of $149.48 million. On average, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Johnny Trotter acquired 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now directly owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. The trade was a 0.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 7,041 shares of company stock valued at $247,992 over the last ninety days. Company 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.