Smart Money Group LLC Trims Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Smart Money Group LLC lessened its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,370 shares of the bank’s stock after selling 972 shares during the quarter. First Financial Bankshares comprises 1.4% of Smart Money Group LLC’s investment portfolio, making the stock its 19th largest position. Smart Money Group LLC owned about 0.07% of First Financial Bankshares worth $3,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great Lakes Advisors LLC bought a new stake in First Financial Bankshares in the third quarter valued at approximately $3,484,000. Natixis Advisors L.P. boosted its holdings in shares of First Financial Bankshares by 39.7% in the fourth quarter. Natixis Advisors L.P. now owns 447,970 shares of the bank’s stock worth $13,573,000 after buying an additional 127,397 shares during the last quarter. Envestnet Asset Management Inc. raised its position in First Financial Bankshares by 58.7% in the third quarter. Envestnet Asset Management Inc. now owns 304,771 shares of the bank’s stock worth $7,656,000 after acquiring an additional 112,773 shares during the period. Tudor Investment Corp Et Al bought a new position in First Financial Bankshares in the 3rd quarter worth $2,424,000. Finally, International Assets Investment Management LLC purchased a new stake in First Financial Bankshares in the fourth quarter worth about $2,965,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

FFIN stock traded up $0.57 during midday trading on Thursday, reaching $30.59. The stock had a trading volume of 351,043 shares, compared to its average volume of 504,160. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $33.15. The stock has a market cap of $4.37 billion, a PE ratio of 21.80 and a beta of 0.83. The firm has a fifty day simple moving average of $30.90 and a two-hundred day simple moving average of $29.21.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Keefe, Bruyette & Woods upped their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Finally, Stephens decreased their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.33.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Johnny Trotter bought 1,500 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $30.22 per share, with a total value of $45,330.00. Following the purchase, the director now directly owns 940,371 shares of the company’s stock, valued at $28,418,011.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders acquired 3,177 shares of company stock worth $95,834. 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.