First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 3.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,000 shares of the bank’s stock after selling 500 shares during the period. King Luther Capital Management Corp’s holdings in First Financial Bankshares were worth $481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in First Financial Bankshares in the second quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new position in shares of First Financial Bankshares in the 2nd quarter valued at $41,000. Quarry LP purchased a new stake in First Financial Bankshares during the second quarter worth $83,000. Huntington National Bank grew its position in First Financial Bankshares by 32.2% during the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after buying an additional 577 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of First Financial Bankshares in the second quarter worth about $97,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insider Transactions at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the company’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 value of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on FFIN. Truist Financial raised their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Stephens boosted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Hovde Group increased their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st.

First Financial Bankshares Trading Up 3.2 %

NASDAQ:FFIN opened at $42.77 on Friday. The stock has a 50 day moving average of $38.19 and a two-hundred day moving average of $34.55. First Financial Bankshares, Inc. has a 12 month low of $25.99 and a 12 month high of $43.57. The firm has a market cap of $6.11 billion, a P/E ratio of 29.50 and a beta of 0.78.

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

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 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.