First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Exchange Traded Concepts LLC

Posted by Defense World Staff on Oct 7th, 2023

Exchange Traded Concepts LLC reduced its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Free Report) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,177 shares of the bank’s stock after selling 570 shares during the quarter. Exchange Traded Concepts LLC’s holdings in First Financial Bankshares were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in First Financial Bankshares by 0.9% during the first quarter. BlackRock Inc. now owns 15,069,308 shares of the bank’s stock worth $480,711,000 after buying an additional 133,198 shares during the period. Vanguard Group Inc. grew its holdings in First Financial Bankshares by 1.6% in the third quarter. Vanguard Group Inc. now owns 14,058,166 shares of the bank’s stock valued at $588,054,000 after purchasing an additional 219,022 shares during the last quarter. State Street Corp grew its holdings in First Financial Bankshares by 5.7% in the first quarter. State Street Corp now owns 5,667,499 shares of the bank’s stock valued at $250,897,000 after purchasing an additional 304,883 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in First Financial Bankshares by 19.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock valued at $112,076,000 after purchasing an additional 570,999 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in First Financial Bankshares by 3.5% in the first quarter. Geode Capital Management LLC now owns 2,680,598 shares of the bank’s stock valued at $85,511,000 after purchasing an additional 91,704 shares during the last quarter. 54.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on FFIN shares. StockNews.com began coverage on First Financial Bankshares in a report on Thursday. They issued a “sell” rating on the stock. Stephens increased their price target on shares of First Financial Bankshares from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, July 21st. 3M reiterated a “maintains” rating on shares of First Financial Bankshares in a research report on Thursday, June 29th. Finally, Truist Financial lowered their price target on shares of First Financial Bankshares from $33.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th.

Read Our Latest Stock Analysis on First Financial Bankshares

Insiders Place Their Bets

In other First Financial Bankshares news, Director Johnny Trotter purchased 2,500 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $29.04 per share, with a total value of $72,600.00. Following the purchase, the director now owns 927,576 shares in the company, valued at $26,936,807.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 3,803 shares of company stock valued at $112,147. Insiders own 4.11% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN opened at $24.72 on Friday. First Financial Bankshares, Inc. has a 1 year low of $23.81 and a 1 year high of $46.08. The firm’s 50 day moving average price is $28.20 and its 200 day moving average price is $28.78. The firm has a market cap of $3.53 billion, a P/E ratio of 15.95 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last announced its earnings results on Thursday, July 20th. The bank reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. First Financial Bankshares had a net margin of 36.80% and a return on equity of 17.24%. The firm had revenue of $128.76 million for the quarter, compared to analyst estimates of $128.30 million. As a group, equities analysts predict that First Financial Bankshares, Inc. will post 1.44 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, September 13th. First Financial Bankshares’s payout ratio is 46.45%.

First Financial Bankshares Company Profile

(Free Report)

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.