ProShare Advisors LLC Lowers Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

ProShare Advisors LLC trimmed its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 20.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,536 shares of the bank’s stock after selling 6,168 shares during the period. ProShare Advisors LLC’s holdings in First Financial Bankshares were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FFIN. UBS Group AG increased its position in shares of First Financial Bankshares by 98.5% during the fourth quarter. UBS Group AG now owns 239,068 shares of the bank’s stock valued at $7,244,000 after acquiring an additional 118,623 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in First Financial Bankshares by 6.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 51,388 shares of the bank’s stock valued at $1,557,000 after buying an additional 3,001 shares during the period. Hsbc Holdings PLC purchased a new stake in First Financial Bankshares during the fourth quarter worth about $1,209,000. Stifel Financial Corp raised its position in First Financial Bankshares by 19.3% in the fourth quarter. Stifel Financial Corp now owns 157,283 shares of the bank’s stock worth $4,766,000 after acquiring an additional 25,414 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of First Financial Bankshares during the 4th quarter valued at approximately $383,000. 69.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens boosted their target price on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Truist Financial upped their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $36.63 on Monday. The firm has a market capitalization of $5.23 billion, a P/E ratio of 26.16 and a beta of 0.78. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $39.53. The business has a fifty day moving average price of $36.36 and a 200-day moving average price of $32.42.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $184.94 million during the quarter, compared to analyst estimates of $134.10 million. Sell-side analysts expect that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, September 12th. First Financial Bankshares’s payout ratio is 51.43%.

First Financial Bankshares 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.