Principal Financial Group Inc. Sells 134,623 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Principal Financial Group Inc. lowered its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 30.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 301,494 shares of the bank’s stock after selling 134,623 shares during the quarter. Principal Financial Group Inc.’s holdings in First Financial Bankshares were worth $11,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFIN. Olistico Wealth LLC bought a new stake in First Financial Bankshares in the second quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $41,000. Quarry LP purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $83,000. Point72 DIFC Ltd purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $97,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $118,000. Institutional investors own 69.78% of the company’s stock.

Insider Transactions at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Hovde Group boosted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Truist Financial boosted their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Stephens boosted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Down 0.1 %

Shares of FFIN stock opened at $41.34 on Monday. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 28.51 and a beta of 0.78. The business’s fifty day moving average is $37.65 and its 200 day moving average is $34.21. First Financial Bankshares, Inc. has a twelve month low of $25.99 and a twelve month high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. Equities research analysts expect that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company 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 $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 1.74%. First Financial Bankshares’s payout ratio is 49.66%.

First Financial Bankshares 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.