Bessemer Group Inc. Cuts Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bessemer Group Inc. decreased its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,483 shares of the bank’s stock after selling 9,106 shares during the period. Bessemer Group Inc.’s holdings in First Financial Bankshares were worth $1,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank’s stock valued at $508,146,000 after buying an additional 110,923 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First Financial Bankshares by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank’s stock worth $124,446,000 after purchasing an additional 249,011 shares during the period. Strategic Financial Concepts LLC increased its holdings in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock valued at $101,222,000 after purchasing an additional 2,730,017 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Financial Bankshares by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank’s stock valued at $61,494,000 after purchasing an additional 4,608 shares during the period. Finally, Norges Bank acquired a new position in First Financial Bankshares during the fourth quarter worth about $47,757,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Johnny Trotter acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares in the company, valued at approximately $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, January 27th.

First Financial Bankshares Stock Down 0.3 %

NASDAQ:FFIN opened at $31.30 on Monday. First Financial Bankshares, Inc. has a 52-week low of $27.62 and a 52-week high of $44.66. The stock has a fifty day simple moving average of $35.86 and a 200-day simple moving average of $37.38. The company has a market capitalization of $4.48 billion, a PE ratio of 20.06 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. As a group, equities analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.15%.

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.