HighTower Advisors LLC Cuts Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Posted by on May 25th, 2023

HighTower Advisors LLC lessened its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,026 shares of the bank’s stock after selling 1,616 shares during the quarter. HighTower Advisors LLC’s holdings in First Financial Bankshares were worth $1,998,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Householder Group Estate & Retirement Specialist LLC purchased a new stake in First Financial Bankshares during the 4th quarter valued at $34,000. Parallel Advisors LLC boosted its stake in First Financial Bankshares by 104.7% during the fourth quarter. Parallel Advisors LLC now owns 1,132 shares of the bank’s stock worth $39,000 after buying an additional 579 shares during the period. Quadrant Capital Group LLC increased its position in First Financial Bankshares by 46.0% during the third quarter. Quadrant Capital Group LLC now owns 1,101 shares of the bank’s stock valued at $46,000 after acquiring an additional 347 shares during the last quarter. Signaturefd LLC raised its stake in shares of First Financial Bankshares by 62.7% in the third quarter. Signaturefd LLC now owns 1,199 shares of the bank’s stock valued at $50,000 after acquiring an additional 462 shares during the period. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of First Financial Bankshares in the 4th quarter worth about $70,000. Institutional investors own 53.86% of the company’s stock.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 2,000 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average price of $34.43 per share, for a total transaction of $68,860.00. Following the completion of the acquisition, the director now owns 908,557 shares of the company’s stock, valued at $31,281,617.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robert Clark Nickles, Jr. acquired 9,146 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average price of $32.75 per share, with a total value of $299,531.50. Following the completion of the transaction, the director now directly owns 72,785 shares in the company, valued at $2,383,708.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Johnny Trotter acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average cost of $34.43 per share, for a total transaction of $68,860.00. Following the transaction, the director now owns 908,557 shares of the company’s stock, valued at $31,281,617.51. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 41,733 shares of company stock worth $1,222,342. Company insiders own 4.11% of the company’s stock.

Analysts Set New Price Targets

FFIN has been the topic of several analyst reports. Stephens cut their price target on shares of First Financial Bankshares from $34.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, April 21st. Truist Financial reduced their price target on First Financial Bankshares from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, March 23rd. StockNews.com initiated coverage on First Financial Bankshares in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Piper Sandler reduced their price target on First Financial Bankshares from $28.00 to $26.00 in a report on Friday, April 21st.

First Financial Bankshares Trading Down 1.5 %

NASDAQ FFIN opened at $27.34 on Thursday. The company’s 50-day moving average price is $29.27 and its 200-day moving average price is $33.39. The stock has a market cap of $3.90 billion, a PE ratio of 16.98 and a beta of 0.73. First Financial Bankshares, Inc. has a 12 month low of $25.01 and a 12 month high of $47.26.

First Financial Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a $0.18 dividend. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.63%. First Financial Bankshares’s payout ratio is presently 42.24%.

About First Financial Bankshares

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First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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