Orion Portfolio Solutions LLC Sells 5,675 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Orion Portfolio Solutions LLC trimmed its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,805 shares of the bank’s stock after selling 5,675 shares during the period. Orion Portfolio Solutions LLC’s holdings in First Financial Bankshares were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $83,000. Huntington National Bank grew its stake in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares during the period. Point72 DIFC Ltd bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $97,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $118,000. 69.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Price Performance

Shares of FFIN opened at $40.47 on Friday. The business’s 50 day simple moving average is $39.48 and its 200-day simple moving average is $35.65. First Financial Bankshares, Inc. has a one year low of $27.06 and a one year high of $44.66. The company has a market capitalization of $5.78 billion, a P/E ratio of 27.91 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The firm had revenue of $142.10 million for the quarter, compared to the consensus estimate of $140.25 million. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is 49.66%.

First Financial Bankshares 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.