Rafferty Asset Management LLC Has $3.56 Million Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Rafferty Asset Management LLC trimmed its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 29.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,868 shares of the bank’s stock after selling 41,920 shares during the quarter. Rafferty Asset Management LLC owned 0.07% of First Financial Bankshares worth $3,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FFIN. Barclays PLC grew its stake in shares of First Financial Bankshares by 83.0% in the third quarter. Barclays PLC now owns 289,468 shares of the bank’s stock worth $10,714,000 after purchasing an additional 131,259 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in First Financial Bankshares during the 4th quarter worth about $603,000. Ballentine Partners LLC grew its position in shares of First Financial Bankshares by 3.9% in the 4th quarter. Ballentine Partners LLC now owns 12,665 shares of the bank’s stock valued at $457,000 after buying an additional 475 shares during the last quarter. Blue Trust Inc. increased its stake in shares of First Financial Bankshares by 1.8% in the fourth quarter. Blue Trust Inc. now owns 36,788 shares of the bank’s stock valued at $1,362,000 after buying an additional 665 shares during the period. Finally, KBC Group NV raised its position in shares of First Financial Bankshares by 50.5% during the fourth quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after acquiring an additional 1,819 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Johnny Trotter acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the acquisition, the director now 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 7,099 shares of company stock valued at $247,751 over the last ninety days. 4.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Hovde Group reduced their target price 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. Keefe, Bruyette & Woods reduced their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st.

First Financial Bankshares Price Performance

Shares of NASDAQ:FFIN opened at $35.86 on Monday. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The business’s 50-day moving average is $34.28 and its 200-day moving average is $36.89. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 22.99 and a beta of 0.89.

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

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, June 16th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s payout ratio is presently 46.91%.

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.