Mission Wealth Management LP Has $303,000 Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Mission Wealth Management LP reduced its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 76.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the bank’s stock after selling 32,191 shares during the period. Mission Wealth Management LP’s holdings in First Financial Bankshares were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Semanteon Capital Management LP bought a new stake in First Financial Bankshares during the 4th quarter worth $817,000. International Assets Investment Management LLC acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $2,965,000. Louisiana State Employees Retirement System bought a new position in First Financial Bankshares in the 4th quarter valued at approximately $1,094,000. Ballentine Partners LLC acquired a new stake in First Financial Bankshares during the 4th quarter worth approximately $352,000. Finally, Kingsview Wealth Management LLC bought a new stake in First Financial Bankshares during the 3rd quarter worth approximately $593,000. Institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FFIN shares. Stephens reduced their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Keefe, Bruyette & Woods boosted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Truist Financial reduced their price objective on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.33.

Insider Activity

In related news, Director Johnny Trotter acquired 1,500 shares of the stock in a transaction on Thursday, April 25th. The shares were acquired at an average price of $30.22 per share, with a total value of $45,330.00. Following the completion of the transaction, the director now owns 940,371 shares in the company, valued at approximately $28,418,011.62. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 3,177 shares of company stock valued at $95,834 in the last ninety days. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Stock Performance

FFIN stock opened at $30.76 on Friday. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $33.15. The business has a 50-day simple moving average of $30.88 and a two-hundred day simple moving average of $29.22. The company has a market capitalization of $4.39 billion, a P/E ratio of 21.97 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The business had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. During the same period last year, the business earned $0.39 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.47 earnings per share for the current fiscal year.

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.