Cullen Frost Bankers Inc. Sells 3,000 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Cullen Frost Bankers Inc. reduced its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,962 shares of the bank’s stock after selling 3,000 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in First Financial Bankshares were worth $2,029,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in shares of First Financial Bankshares by 1.5% in the fourth quarter. Blue Trust Inc. now owns 24,927 shares of the bank’s stock valued at $755,000 after acquiring an additional 379 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of First Financial Bankshares by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 160,861 shares of the bank’s stock worth $4,874,000 after purchasing an additional 455 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of First Financial Bankshares by 134.8% during the fourth quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock worth $28,000 after purchasing an additional 523 shares during the period. Arizona State Retirement System raised its position in shares of First Financial Bankshares by 1.4% in the third quarter. Arizona State Retirement System now owns 38,608 shares of the bank’s stock valued at $970,000 after buying an additional 530 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of First Financial Bankshares by 0.7% in the fourth quarter. Amalgamated Bank now owns 80,994 shares of the bank’s stock valued at $2,454,000 after buying an additional 576 shares during the period. 69.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

FFIN has been the topic of a number of analyst reports. Stephens reduced their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Truist Financial decreased their price objective on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods upped their target price on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.33.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $30.87 on Thursday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 22.05 and a beta of 0.83. The stock’s 50-day moving average is $30.89 and its 200 day moving average is $29.44. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $33.15.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The business had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. During the same period in the prior year, the firm earned $0.39 earnings per share. First Financial Bankshares’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 1.47 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, June 14th. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter bought 1,500 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was bought at an average cost of $30.22 per share, with a total value of $45,330.00. Following the completion of the transaction, the director now directly owns 940,371 shares in the company, valued at approximately $28,418,011.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 3,943 shares of company stock valued at $119,986. 4.22% of the stock is owned by company insiders.

About First Financial Bankshares

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.