First Financial Bankshares, Inc. $FFIN Stock Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC trimmed its stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,321 shares of the bank’s stock after selling 24,964 shares during the quarter. CFM Wealth Partners LLC owned about 0.08% of First Financial Bankshares worth $3,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FFIN. Mather Group LLC. bought a new position in shares of First Financial Bankshares in the third quarter valued at approximately $25,000. Root Financial Partners LLC bought a new stake in First Financial Bankshares during the third quarter worth approximately $34,000. Parallel Advisors LLC raised its holdings in First Financial Bankshares by 83.5% during the first quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock worth $56,000 after purchasing an additional 858 shares in the last quarter. IFP Advisors Inc raised its holdings in First Financial Bankshares by 1,708.2% during the second quarter. IFP Advisors Inc now owns 1,754 shares of the bank’s stock worth $61,000 after purchasing an additional 1,657 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in First Financial Bankshares by 33.2% in the third quarter. Nisa Investment Advisors LLC now owns 2,232 shares of the bank’s stock worth $71,000 after purchasing an additional 556 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Trading Down 0.8%

NASDAQ:FFIN opened at $30.34 on Thursday. The company has a 50-day moving average of $31.60 and a 200-day moving average of $32.43. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 15.07 and a beta of 0.80. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Friday, October 16th. The bank reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. First Financial Bankshares had a net margin of 33.16% and a return on equity of 15.14%. The business had revenue of $174.14 million for the quarter, compared to the consensus estimate of $178.63 million. During the same period in the previous year, the firm earned $0.36 EPS. On average, research analysts forecast that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on FFIN. Seaport Research Partners upgraded First Financial Bankshares to a “buy” rating in a research report on Wednesday, October 14th. Weiss Ratings cut First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Piper Sandler dropped their price objective on First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 price objective (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th. Finally, Cantor Fitzgerald cut their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, First Financial Bankshares presently has a consensus rating of “Hold” and a consensus price target of $35.20.

Insider Activity at First Financial Bankshares

In related news, Director Michael Denny purchased 3,245 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were bought at an average price of $30.76 per share, with a total value of $99,816.20. Following the completion of the acquisition, the director owned 9,745 shares of the company’s stock, valued at approximately $299,756.20. This represents a 49.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ronald David Butler II sold 15,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.95, for a total value of $524,250.00. Following the completion of the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 7,865 shares of company stock worth $252,919. 3.80% of the stock is currently owned by company insiders.

First Financial Bankshares Profile

First Financial Bankshares, Inc. is a Texas-based financial holding company whose principal subsidiary, First Financial Bank, provides banking and related financial services to individuals, businesses, and organizations. The company traces its roots to 1890, when a predecessor bank opened in Abilene, Texas. Through a network of banking locations across Texas, First Financial offers deposit accounts, consumer and commercial loans, mortgage and agricultural lending, and other banking services. Its affiliated businesses also provide trust and wealth management and insurance services.