Sanctuary Advisors LLC Buys 820 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Sanctuary Advisors LLC boosted its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,607 shares of the bank’s stock after acquiring an additional 820 shares during the period. Sanctuary Advisors LLC’s holdings in First Financial Bankshares were worth $4,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. Wealth Enhancement Advisory Services LLC raised its position in shares of First Financial Bankshares by 6.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,537 shares of the bank’s stock valued at $518,000 after buying an additional 1,050 shares in the last quarter. Raymond James & Associates raised its position in First Financial Bankshares by 17.4% during the second quarter. Raymond James & Associates now owns 78,896 shares of the bank’s stock valued at $2,330,000 after purchasing an additional 11,701 shares in the last quarter. Neo Ivy Capital Management bought a new stake in First Financial Bankshares during the second quarter worth $41,000. Atria Wealth Solutions Inc. boosted its holdings in shares of First Financial Bankshares by 52.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 42,154 shares of the bank’s stock valued at $1,252,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of First Financial Bankshares by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on FFIN shares. Truist Financial upped their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens increased their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Hovde Group raised their price target on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

First Financial Bankshares Stock Up 1.0 %

Shares of FFIN opened at $40.86 on Tuesday. The stock has a market cap of $5.84 billion, a PE ratio of 28.18 and a beta of 0.81. First Financial Bankshares, Inc. has a 12-month low of $27.06 and a 12-month high of $44.66. The business has a 50-day simple moving average of $39.57 and a two-hundred day simple moving average of $35.78.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 49.66%.

Insider Activity

In other news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.73, for a total value of $1,018,250.00. Following the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at $19,183,992.92. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Company 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.