ProShare Advisors LLC Sells 34,340 Shares of First Financial Bankshares, Inc. $FFIN

by · The Markets Daily

ProShare Advisors LLC lessened its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Free Report) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 802,129 shares of the bank’s stock after selling 34,340 shares during the period. ProShare Advisors LLC’s holdings in First Financial Bankshares were worth $25,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FFIN. Signaturefd LLC raised its holdings in shares of First Financial Bankshares by 11.2% in the third quarter. Signaturefd LLC now owns 7,042 shares of the bank’s stock worth $224,000 after buying an additional 710 shares during the period. Evergreen Capital Management LLC boosted its holdings in First Financial Bankshares by 29.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 20,739 shares of the bank’s stock valued at $662,000 after acquiring an additional 4,680 shares during the period. Sterling Capital Management LLC boosted its holdings in First Financial Bankshares by 109.9% during the 3rd quarter. Sterling Capital Management LLC now owns 3,485 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,825 shares during the period. Inspire Investing LLC boosted its holdings in First Financial Bankshares by 1.9% during the 3rd quarter. Inspire Investing LLC now owns 24,211 shares of the bank’s stock valued at $768,000 after acquiring an additional 441 shares during the period. Finally, Root Financial Partners LLC bought a new position in First Financial Bankshares in the 3rd quarter valued at $34,000. Institutional investors own 69.78% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Ronald David Butler II sold 15,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares in the company, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Denny acquired 3,245 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was purchased 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 directly owned 9,745 shares of the company’s stock, valued at $299,756.20. This represents a 49.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 7,065 shares of company stock worth $228,495 in the last three months. Corporate insiders own 3.80% of the company’s stock.

First Financial Bankshares Stock Up 2.8%

Shares of NASDAQ:FFIN opened at $31.44 on Tuesday. The business’s 50 day moving average is $31.97 and its 200 day moving average is $32.50. The stock has a market cap of $4.51 billion, a P/E ratio of 14.93 and a beta of 0.82. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $36.52.

First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last issued its earnings results on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The business had revenue of $174.14 million during the quarter, compared to analyst estimates of $178.63 million. During the same period in the previous year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $34.00 target price (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th. Cantor Fitzgerald lowered their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Seaport Research Partners raised shares of First Financial Bankshares to a “buy” rating in a research note on Wednesday, October 14th. Raymond James Financial began coverage on shares of First Financial Bankshares in a report on Wednesday, October 14th. They issued a “market perform” rating on the stock. Finally, Hovde Group started coverage on shares of First Financial Bankshares in a research note on Friday, September 11th. They issued a “market perform” rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.20.

Get Our Latest Research Report on First Financial Bankshares

First Financial Bankshares Profile

(Free Report)

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.

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