Bessemer Group Inc. Sells 34,799 Shares of First Financial Bankshares, Inc. $FFIN

Bessemer Group Inc. decreased its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 74.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,001 shares of the bank’s stock after selling 34,799 shares during the quarter. Bessemer Group Inc.’s holdings in First Financial Bankshares were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FFIN. Quarry LP boosted its position in shares of First Financial Bankshares by 66.3% during the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after buying an additional 409 shares during the period. Danske Bank A S boosted its position 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 worth $36,000 after acquiring an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in First Financial Bankshares during the 4th quarter worth approximately $44,000. CIBC Private Wealth Group LLC bought a new position in shares of First Financial Bankshares during the 3rd quarter worth approximately $50,000. Finally, State of Wyoming bought a new position in shares of First Financial Bankshares during the 2nd quarter worth approximately $54,000. 69.78% of the stock is currently owned by institutional investors.

Insider Activity at First Financial Bankshares

In other news, Director Murray Hamilton Edwards acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the transaction, the director directly owned 44,634 shares in the company, valued at approximately $1,480,956.12. The trade was a 2.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is currently owned by company insiders.

First Financial Bankshares Stock Up 0.5%

Shares of First Financial Bankshares stock opened at $34.68 on Friday. The stock has a market cap of $4.97 billion, a P/E ratio of 18.55 and a beta of 0.81. First Financial Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $38.12. The business’s 50 day moving average is $33.65 and its 200-day moving average is $32.31.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $172.76 million during the quarter, compared to analysts’ expectations of $173.03 million. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. During the same period last year, the business earned $0.47 earnings per share. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a $0.22 dividend. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 12th. First Financial Bankshares’s dividend payout ratio is 47.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on FFIN. Benchmark started 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 on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Thursday, April 9th. Finally, Weiss Ratings upgraded shares of First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.75.

First Financial Bankshares 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.