Citigroup Inc. Acquires 53,195 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Citigroup Inc. increased its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 27.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,553 shares of the bank’s stock after buying an additional 53,195 shares during the quarter. Citigroup Inc. owned 0.18% of First Financial Bankshares worth $9,273,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of First Financial Bankshares by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,096 shares of the bank’s stock worth $2,760,000 after acquiring an additional 4,736 shares during the last quarter. Olistico Wealth LLC purchased a new position in First Financial Bankshares during the second quarter valued at $29,000. SG Americas Securities LLC grew its holdings in First Financial Bankshares by 480.0% during the second quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock valued at $1,169,000 after purchasing an additional 32,774 shares during the period. Diversified Trust Co increased its position in First Financial Bankshares by 3.0% in the second quarter. Diversified Trust Co now owns 29,297 shares of the bank’s stock worth $865,000 after buying an additional 865 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of First Financial Bankshares by 6.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,537 shares of the bank’s stock worth $518,000 after buying an additional 1,050 shares during the period. 69.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.22% of the stock is owned by company insiders.

First Financial Bankshares Stock Performance

FFIN stock opened at $41.68 on Friday. The company’s fifty day moving average price is $38.62 and its 200-day moving average price is $34.92. First Financial Bankshares, Inc. has a one year low of $25.99 and a one year high of $44.66. The company has a market capitalization of $5.96 billion, a PE ratio of 28.74 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, research analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s payout ratio is 49.66%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FFIN. Hovde Group increased their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Stephens upped their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Truist Financial raised their price target on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th.

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.