Bank of New York Mellon Corp Decreases Holdings in First Financial Bankshares, Inc. $FFIN

Bank of New York Mellon Corp decreased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,158,379 shares of the bank’s stock after selling 27,324 shares during the period. Bank of New York Mellon Corp’s holdings in First Financial Bankshares were worth $34,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC increased its position in shares of First Financial Bankshares by 5.1% during the 1st quarter. Sanctuary Advisors LLC now owns 90,289 shares of the bank’s stock valued at $2,659,000 after purchasing an additional 4,372 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in First Financial Bankshares by 9.3% during the first quarter. Bleakley Financial Group LLC now owns 15,124 shares of the bank’s stock worth $445,000 after buying an additional 1,290 shares during the period. State of Michigan Retirement System boosted its stake in First Financial Bankshares by 2.0% during the first quarter. State of Michigan Retirement System now owns 31,363 shares of the bank’s stock worth $924,000 after buying an additional 600 shares during the period. Principal Financial Group Inc. increased its position in First Financial Bankshares by 4.4% during the first quarter. Principal Financial Group Inc. now owns 297,075 shares of the bank’s stock valued at $8,749,000 after acquiring an additional 12,454 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in First Financial Bankshares by 5,632.8% during the first 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. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Insider Transactions at First Financial Bankshares

In other news, Director Murray Hamilton Edwards acquired 1,000 shares of First Financial Bankshares stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the acquisition, the director directly owned 44,634 shares of the company’s stock, valued at $1,480,956.12. This trade represents a 2.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by company insiders.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $34.68 on Monday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 18.55 and a beta of 0.81. The firm has a 50-day moving average of $33.65 and a two-hundred day moving average of $32.32. First Financial Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $38.12.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The business had revenue of $172.76 million for the quarter, compared to analyst estimates of $173.03 million. During the same period last year, the company posted $0.47 earnings per share. Research analysts expect that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered 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 report on Thursday, April 9th. Cantor Fitzgerald reiterated 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. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Finally, Benchmark assumed coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, First Financial Bankshares currently has an average rating of “Moderate Buy” and a consensus price target 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.