First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 147,705 shares of the bank’s stock after selling 2,717 shares during the period. The Manufacturers Life Insurance Company’s holdings in First Financial Bankshares were worth $5,325,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FFIN. Assetmark Inc. purchased a new position in shares of First Financial Bankshares during the fourth quarter worth $33,000. R Squared Ltd acquired a new position in First Financial Bankshares during the 4th quarter worth about $88,000. Harvest Fund Management Co. Ltd lifted its stake in First Financial Bankshares by 1,497.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after acquiring an additional 3,039 shares in the last quarter. KBC Group NV boosted its holdings in First Financial Bankshares by 50.5% during the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after acquiring an additional 1,819 shares during the period. Finally, US Bancorp DE grew its position in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock valued at $195,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $34.20 on Thursday. The business has a 50-day simple moving average of $34.39 and a 200-day simple moving average of $36.94. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66. The company has a market cap of $4.89 billion, a PE ratio of 21.92 and a beta of 0.89.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $149.48 million. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a $0.19 dividend. The ex-dividend date is Monday, June 16th. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.22%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 46.91%.

Analyst Ratings Changes

FFIN has been the subject of several recent research reports. Hovde Group lowered their price objective on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased 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 research report on Monday, April 21st.

Insiders Place Their Bets

In related news, Director Johnny Trotter purchased 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 7,099 shares of company stock valued at $247,751 in the last ninety days. 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.