First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,849 shares of the bank’s stock after selling 68,053 shares during the period. Wells Fargo & Company MN owned about 0.30% of First Financial Bankshares worth $15,280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted 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 worth $101,222,000 after purchasing an additional 2,730,017 shares during the last quarter. Norges Bank bought a new stake in First Financial Bankshares in the fourth quarter valued at $47,757,000. Axiom Investors LLC DE acquired a new position in shares of First Financial Bankshares during the fourth quarter valued at $16,937,000. Geode Capital Management LLC grew its position in shares of First Financial Bankshares by 8.0% during the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank’s stock worth $124,446,000 after acquiring an additional 249,011 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Financial Bankshares in the 4th quarter worth about $8,341,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $31.74 on Tuesday. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The business has a fifty day moving average of $35.72 and a 200-day moving average of $37.35. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 20.35 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, March 14th. First Financial Bankshares’s payout ratio is currently 46.15%.

Insider Activity

In other news, Director Johnny Trotter bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, with a total value 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 $33,341,909.52. This represents a 0.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.22% of the stock is owned by insiders.

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.