Doliver Advisors LP Cuts Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Doliver Advisors LP reduced its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,800 shares of the bank’s stock after selling 700 shares during the quarter. First Financial Bankshares accounts for approximately 0.7% of Doliver Advisors LP’s portfolio, making the stock its 21st largest holding. Doliver Advisors LP’s holdings in First Financial Bankshares were worth $2,372,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its stake in shares of First Financial Bankshares by 4.7% in the third quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock worth $231,381,000 after buying an additional 281,166 shares during the period. Champlain Investment Partners LLC boosted its stake in First Financial Bankshares by 6.8% during the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock worth $130,139,000 after acquiring an additional 223,640 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First Financial Bankshares by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank’s stock worth $124,446,000 after buying an additional 249,011 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of First Financial Bankshares by 3,632.9% in the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock worth $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in First Financial Bankshares by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after purchasing an additional 130,361 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the completion of the sale, the chief executive officer now directly owns 471,004 shares of the company’s stock, valued at $19,183,992.92. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.22% of the stock is owned by insiders.

First Financial Bankshares Price Performance

Shares of FFIN traded up $0.23 during trading hours on Monday, hitting $36.25. The stock had a trading volume of 230,537 shares, compared to its average volume of 522,723. The stock has a fifty day moving average price of $39.37 and a 200 day moving average price of $36.56. The firm has a market capitalization of $5.18 billion, a PE ratio of 25.00 and a beta of 0.83. First Financial Bankshares, Inc. has a 12 month low of $27.06 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting 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 company had revenue of $142.10 million for the quarter, compared to the consensus estimate of $140.25 million. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.99%. First Financial Bankshares’s dividend payout ratio is presently 49.66%.

First Financial Bankshares Company 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.