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

Emerald Mutual Fund Advisers Trust trimmed its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 86.3% in the third quarter, according to 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 period. Emerald Mutual Fund Advisers Trust’s holdings in First Financial Bankshares were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in First Financial Bankshares in the 2nd quarter valued at about $57,680,000. Invesco Ltd. grew its position in shares of First Financial Bankshares by 170.9% in the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock valued at $39,615,000 after purchasing an additional 694,534 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of First Financial Bankshares by 314.0% in the second quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock valued at $17,640,000 after purchasing an additional 371,847 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in First Financial Bankshares by 336.8% during the second quarter. Jupiter Asset Management Ltd. now owns 422,245 shares of the bank’s stock worth $15,192,000 after buying an additional 325,572 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in First Financial Bankshares by 484.7% during the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank’s stock worth $9,038,000 after buying an additional 208,573 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Down 2.8%

Shares of First Financial Bankshares stock opened at $32.75 on Friday. First Financial Bankshares, Inc. has a 52 week low of $29.43 and a 52 week high of $39.12. The business’s fifty day simple moving average is $31.34 and its 200-day simple moving average is $33.39. The firm has a market cap of $4.69 billion, a PE ratio of 18.50 and a beta of 0.84.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $164.72 million during the quarter, compared to the consensus estimate of $165.70 million. First Financial Bankshares had a return on equity of 14.50% and a net margin of 30.43%.The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. As a group, equities analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

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

Analyst Ratings Changes

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

Insider Activity at First Financial Bankshares

In related news, Director Sally Pope Davis acquired 1,700 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $30.73 per share, for a total transaction of $52,241.00. Following the acquisition, the director owned 6,971 shares in the company, valued at $214,218.83. The trade was a 32.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michelle S. Hickox bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average price of $31.15 per share, with a total value of $62,300.00. Following the acquisition, the chief financial officer directly owned 24,461 shares in the company, valued at $761,960.15. The trade was a 8.90% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 4,353 shares of company stock worth $134,888. Company insiders own 4.22% of the company’s stock.

First Financial Bankshares Profile

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.