Susquehanna International Group LLP Trims Stock Holdings in First Financial Bankshares, Inc. $FFIN

Susquehanna International Group LLP cut its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 79.7% during the second quarter, HoldingsChannel.com reports. The fund owned 19,265 shares of the bank’s stock after selling 75,733 shares during the quarter. Susquehanna International Group LLP’s holdings in First Financial Bankshares were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FFIN. Waterloo Capital L.P. raised its holdings in shares of First Financial Bankshares by 978.4% in the fourth quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank’s stock valued at $2,058,000 after buying an additional 62,510 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of First Financial Bankshares by 283.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank’s stock worth $3,369,000 after buying an additional 83,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock valued at $642,573,000 after acquiring an additional 21,511,608 shares during the period. Excelsior Advisor Network LLC purchased a new stake in First Financial Bankshares during the 1st quarter valued at approximately $6,903,000. Finally, Fifth Third Bancorp raised its stake in First Financial Bankshares by 5,632.8% during the 1st quarter. Fifth Third Bancorp now owns 36,346 shares of the bank’s stock valued at $1,070,000 after acquiring an additional 35,712 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the transaction, the director directly owned 6,500 shares of the company’s stock, valued at approximately $225,290. This represents a 85.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the completion of the sale, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. The trade was a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 4,700 shares of company stock valued at $161,583. Insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FFIN shares. Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. Benchmark began coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective for the company. Piper Sandler started coverage on shares of First Financial Bankshares in a report on Thursday. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, First Financial Bankshares currently has an average rating of “Moderate Buy” and an average price target of $36.40.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN opened at $33.23 on Tuesday. First Financial Bankshares, Inc. has a one year low of $28.11 and a one year high of $37.83. The firm has a market capitalization of $4.76 billion, a P/E ratio of 17.77 and a beta of 0.81. The company’s fifty day moving average is $34.65 and its two-hundred day moving average is $32.68.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The firm had revenue of $172.76 million during the quarter, compared to analysts’ expectations of $173.03 million. During the same quarter last year, the business earned $0.47 earnings per share. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, September 14th. First Financial Bankshares’s payout ratio is presently 47.06%.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.