First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 43.8% in the second quarter, HoldingsChannel.com reports. The firm owned 2,441,106 shares of the bank’s stock after selling 1,903,861 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in First Financial Bankshares were worth $72,086,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. First Financial Bankshares Inc purchased a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $553,577,000. Strategic Financial Concepts LLC lifted its position in 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 valued at $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Norges Bank acquired a new position in First Financial Bankshares in the fourth quarter valued at $42,435,000. Champlain Investment Partners LLC grew its holdings in shares of First Financial Bankshares by 27.6% during the first quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock worth $109,400,000 after purchasing an additional 720,820 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of First Financial Bankshares by 3.4% during the first quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after purchasing an additional 490,770 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens upped their target price on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Truist Financial raised their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday.

First Financial Bankshares Stock Down 1.9 %

NASDAQ FFIN opened at $38.10 on Friday. The firm has a market cap of $5.44 billion, a P/E ratio of 27.21 and a beta of 0.78. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $39.53. The business’s 50-day moving average price is $36.08 and its 200 day moving average price is $32.24.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The company had revenue of $184.94 million for the quarter, compared to the consensus estimate of $134.10 million. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.89%. First Financial Bankshares’s payout ratio is currently 51.43%.

About First Financial Bankshares

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.