SG Americas Securities LLC Reduces Stock Holdings in First Financial Bankshares, Inc. $FFIN

SG Americas Securities LLC cut its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 83.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 69,827 shares of the bank’s stock after selling 347,365 shares during the period. SG Americas Securities LLC’s holdings in First Financial Bankshares were worth $2,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in shares of First Financial Bankshares during the fourth quarter valued at approximately $30,000. Quarry LP boosted its stake in shares of First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after purchasing an additional 409 shares during the period. Danske Bank A S grew its holdings in First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in First Financial Bankshares during the 4th quarter worth $44,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Financial Bankshares during the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Activity

In related news, Director Murray Hamilton Edwards acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $33.18 per share, for a total transaction of $33,180.00. Following the purchase, the director owned 44,634 shares in the company, valued at $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by company insiders.

First Financial Bankshares Trading Up 2.5%

Shares of First Financial Bankshares stock opened at $35.45 on Thursday. The company’s 50-day moving average price is $32.69 and its two-hundred day moving average price is $31.84. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $38.74. The stock has a market cap of $5.08 billion, a PE ratio of 19.27 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The firm had revenue of $166.89 million for the quarter, compared to analyst estimates of $166.78 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, equities analysts predict that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a $0.22 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s dividend payout ratio is currently 47.83%.

Analysts Set New Price Targets

FFIN has been the subject of a number of analyst reports. Benchmark assumed coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods lowered their price target on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Financial Bankshares presently has an average rating of “Moderate Buy” and an average price target of $37.75.

About First Financial Bankshares

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.