Quest Partners LLC Sells 9,769 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Quest Partners LLC lowered its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 70.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,148 shares of the bank’s stock after selling 9,769 shares during the period. Quest Partners LLC’s holdings in First Financial Bankshares were worth $154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIN. Strategic Financial Concepts LLC raised its holdings in shares of First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after purchasing an additional 2,912,718 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Financial Bankshares by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock worth $75,482,000 after buying an additional 130,361 shares during the period. Bank of New York Mellon Corp boosted its stake in First Financial Bankshares by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock valued at $40,629,000 after purchasing an additional 15,473 shares during the period. Natixis Advisors LLC boosted its holdings in First Financial Bankshares by 37.5% in the 3rd quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock valued at $22,701,000 after purchasing an additional 167,433 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of First Financial Bankshares by 43.2% in the third quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock valued at $14,578,000 after purchasing an additional 118,830 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

Insider Transactions at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $42.03 on Friday. The company has a market cap of $6.01 billion, a P/E ratio of 28.99 and a beta of 0.78. First Financial Bankshares, Inc. has a 52-week low of $25.99 and a 52-week high of $44.66. The stock’s 50-day simple moving average is $38.55 and its 200 day simple moving average is $34.85.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The business had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. As a group, equities analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. First Financial Bankshares’s payout ratio is presently 49.66%.

Analyst Ratings Changes

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

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.