American International Group Inc. cut its stake in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 20.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 40,562 shares of the bank’s stock after selling 10,223 shares during the period. American International Group Inc. owned about 0.06% of First Financial Bankshares worth $1,878,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FFIN. Schwab Charles Investment Management Inc. raised its position in First Financial Bankshares by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 362,361 shares of the bank’s stock worth $16,325,000 after acquiring an additional 18,597 shares during the period. Aperio Group LLC raised its position in shares of First Financial Bankshares by 13.9% in the fourth quarter. Aperio Group LLC now owns 18,057 shares of the bank’s stock valued at $813,000 after buying an additional 2,210 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $233,000. Teacher Retirement System of Texas acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $819,000. Finally, California Public Employees Retirement System raised its position in shares of First Financial Bankshares by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 145,564 shares of the bank’s stock valued at $6,558,000 after buying an additional 4,153 shares during the last quarter. Institutional investors own 51.53% of the company’s stock.
Shares of FFIN traded down $0.55 during mid-day trading on Thursday, reaching $53.40. The stock had a trading volume of 243,900 shares, compared to its average volume of 221,379. First Financial Bankshares Inc has a 52-week low of $37.31 and a 52-week high of $56.35. The firm has a market capitalization of $3.71 billion, a P/E ratio of 31.41 and a beta of 1.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s dividend payout ratio is currently 44.71%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Wednesday, April 4th. BidaskClub cut shares of First Financial Bankshares from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $47.00 target price on shares of First Financial Bankshares in a research report on Tuesday, February 27th. Finally, ValuEngine upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. First Financial Bankshares currently has an average rating of “Hold” and a consensus price target of $44.71.
In other First Financial Bankshares news, Director Ronald N. Giddiens sold 1,465 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $53.31, for a total transaction of $78,099.15. Following the completion of the transaction, the director now owns 13,747 shares of the company’s stock, valued at $732,852.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Johnny Trotter bought 1,000 shares of the stock in a transaction on Thursday, June 14th. The shares were bought at an average cost of $53.43 per share, with a total value of $53,430.00. The disclosure for this purchase can be found here. Insiders purchased 1,203 shares of company stock valued at $64,087 in the last three months. 4.77% of the stock is currently owned by insiders.
First Financial Bankshares Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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