Envestnet Asset Management Inc. Sells 21,177 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Envestnet Asset Management Inc. cut its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 323,609 shares of the bank’s stock after selling 21,177 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of First Financial Bankshares worth $11,666,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Assetmark Inc. bought a new stake in First Financial Bankshares during the fourth quarter valued at about $33,000. R Squared Ltd purchased a new stake in shares of First Financial Bankshares during the fourth quarter worth about $88,000. Harvest Fund Management Co. Ltd raised 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 valued at $118,000 after purchasing an additional 3,039 shares during the period. KBC Group NV lifted its holdings in First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock worth $195,000 after purchasing an additional 1,819 shares in the last quarter. Finally, US Bancorp DE boosted its stake in First Financial Bankshares by 7.4% in the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock worth $195,000 after purchasing an additional 370 shares during the period. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Down 0.2 %

Shares of First Financial Bankshares stock opened at $32.68 on Friday. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 20.95 and a beta of 0.82. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The business has a 50-day moving average price of $35.41 and a 200-day moving average price of $37.25.

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

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 2.20%. The ex-dividend date was Friday, March 14th. First Financial Bankshares’s payout ratio is 46.15%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter acquired 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.96% of the stock is owned by company insiders.

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.