Emerald Mutual Fund Advisers Trust Reduces Stock Position in First Financial Bankshares, Inc. $FFIN

Emerald Mutual Fund Advisers Trust trimmed its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 86.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,910 shares of the bank’s stock after selling 87,962 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in First Financial Bankshares were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FFIN. Ballentine Partners LLC increased its holdings in First Financial Bankshares by 2.2% in the 2nd quarter. Ballentine Partners LLC now owns 13,358 shares of the bank’s stock worth $481,000 after buying an additional 293 shares during the period. Covestor Ltd increased its stake in shares of First Financial Bankshares by 14.0% in the third quarter. Covestor Ltd now owns 3,255 shares of the bank’s stock worth $110,000 after acquiring an additional 399 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of First Financial Bankshares by 32.4% during the second quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock worth $60,000 after purchasing an additional 406 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in First Financial Bankshares by 33.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,648 shares of the bank’s stock valued at $60,000 after purchasing an additional 412 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in First Financial Bankshares by 7.1% in the second quarter. Captrust Financial Advisors now owns 6,244 shares of the bank’s stock valued at $225,000 after purchasing an additional 413 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $32.75 on Friday. The stock has a market capitalization of $4.69 billion, a PE ratio of 18.50 and a beta of 0.84. The business has a 50 day simple moving average of $31.34 and a 200-day simple moving average of $33.39. First Financial Bankshares, Inc. has a 12 month low of $29.43 and a 12 month high of $39.12.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $164.72 million for the quarter, compared to analysts’ expectations of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.50%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. On average, equities research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. First Financial Bankshares’s payout ratio is currently 42.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FFIN. Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Friday, January 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Insider Activity

In other news, Director Sally Pope Davis acquired 1,700 shares of the business’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $30.73 per share, for a total transaction of $52,241.00. Following the purchase, the director owned 6,971 shares in the company, valued at approximately $214,218.83. This represents a 32.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michelle S. Hickox bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the transaction, the chief financial officer owned 24,461 shares of the company’s stock, valued at approximately $761,960.15. This represents a 8.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 4,353 shares of company stock valued at $134,888. Insiders own 4.22% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.