Adell Harriman & Carpenter Inc. Sells 4,300 Shares of First Financial Bankshares Inc (FFIN)
Adell Harriman & Carpenter Inc. lowered its position in shares of First Financial Bankshares Inc (NASDAQ:FFIN) by 37.4% in the first quarter, Holdings Channel reports. The fund owned 7,200 shares of the bank’s stock after selling 4,300 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in First Financial Bankshares were worth $416,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FFIN. Oregon Public Employees Retirement Fund acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $26,000. Quadrant Capital Group LLC boosted its holdings in shares of First Financial Bankshares by 767.3% in the 1st quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock valued at $26,000 after buying an additional 399 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $29,000. Liberty Wealth Management LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $36,000. Finally, Ellis Investment Partners LLC acquired a new stake in shares of First Financial Bankshares in the 1st quarter valued at approximately $117,000. 55.53% of the stock is owned by hedge funds and other institutional investors.
FFIN opened at $60.47 on Thursday. First Financial Bankshares Inc has a 1-year low of $50.55 and a 1-year high of $66.83. The firm has a market capitalization of $8.10 billion, a P/E ratio of 27.74 and a beta of 1.14.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. The business had revenue of $95.77 million for the quarter, compared to analysts’ expectations of $96.90 million. During the same quarter in the prior year, the business earned $0.51 EPS. On average, equities analysts expect that First Financial Bankshares Inc will post 2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 38.53%.
Several research firms have recently commented on FFIN. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. BidaskClub cut First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Finally, Stephens restated a “neutral” rating and issued a $57.00 price target on shares of First Financial Bankshares in a research note on Monday, April 22nd.
In other news, Director Johnny Trotter acquired 3,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $61.61 per share, for a total transaction of $184,830.00. Following the transaction, the director now directly owns 394,913 shares of the company’s stock, valued at $24,330,589.93. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Copeland sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the transaction, the director now owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 15,218 shares of company stock worth $928,508. 4.90% of the stock is owned by company insiders.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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