Crewe Advisors LLC trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 50.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,845 shares of the bank’s stock after selling 4,845 shares during the period. Crewe Advisors LLC’s holdings in First Financial Bankshares were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. JustInvest LLC acquired a new stake in shares of First Financial Bankshares in the second quarter valued at about $397,000. Toronto Dominion Bank increased its position in First Financial Bankshares by 55.0% during the second quarter. Toronto Dominion Bank now owns 1,862 shares of the bank’s stock worth $102,000 after purchasing an additional 661 shares during the last quarter. Van ECK Associates Corp increased its position in First Financial Bankshares by 144.7% during the second quarter. Van ECK Associates Corp now owns 1,718 shares of the bank’s stock worth $84,000 after purchasing an additional 1,016 shares during the last quarter. Citigroup Inc. increased its position in First Financial Bankshares by 15.0% during the second quarter. Citigroup Inc. now owns 75,658 shares of the bank’s stock worth $3,717,000 after purchasing an additional 9,886 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in First Financial Bankshares by 47.2% during the second quarter. Rafferty Asset Management LLC now owns 83,288 shares of the bank’s stock worth $4,092,000 after purchasing an additional 26,696 shares during the last quarter. Institutional investors and hedge funds own 53.68% of the company’s stock.
In other news, Director Michael B. Denny purchased 2,040 shares of the firm’s stock in a transaction that occurred on Wednesday, July 28th. The stock was bought at an average price of $48.75 per share, for a total transaction of $99,450.00. Following the completion of the purchase, the director now directly owns 5,341 shares of the company’s stock, valued at $260,373.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Murray Hamilton Edwards purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The stock was purchased at an average price of $49.01 per share, with a total value of $49,010.00. Following the purchase, the director now directly owns 191,417 shares of the company’s stock, valued at $9,381,347.17. The disclosure for this purchase can be found here. In the last three months, insiders bought 10,846 shares of company stock valued at $504,709. Insiders own 4.20% of the company’s stock.
First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Monday, July 26th. The bank reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $129.26 million during the quarter, compared to analyst estimates of $128.60 million. First Financial Bankshares had a net margin of 43.97% and a return on equity of 13.44%. As a group, equities analysts expect that First Financial Bankshares, Inc. will post 1.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Thursday, September 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, September 15th. First Financial Bankshares’s payout ratio is 42.25%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, September 9th. Stephens restated an “equal weight” rating and set a $47.76 price objective (up from $47.00) on shares of First Financial Bankshares in a research report on Tuesday, July 27th. Finally, Janney Montgomery Scott initiated coverage on shares of First Financial Bankshares in a research report on Tuesday, August 31st. They set a “neutral” rating and a $50.00 price objective for the company.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.
Want to see what other hedge funds are holding FFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bankshares, Inc. (NASDAQ:FFIN).
Receive News & Ratings for First Financial Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.