TFC Financial Management Inc. Has $606,000 Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

TFC Financial Management Inc. lessened its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 14.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,796 shares of the bank’s stock after selling 2,765 shares during the period. TFC Financial Management Inc.’s holdings in First Financial Bankshares were worth $606,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FFIN. Intech Investment Management LLC bought a new stake in shares of First Financial Bankshares during the third quarter valued at approximately $673,000. State Street Corp boosted its stake in First Financial Bankshares by 4.7% in the third quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock valued at $231,381,000 after acquiring an additional 281,166 shares during the last quarter. Citigroup Inc. boosted its stake in First Financial Bankshares by 27.0% in the third quarter. Citigroup Inc. now owns 250,553 shares of the bank’s stock valued at $9,273,000 after acquiring an additional 53,195 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in First Financial Bankshares by 43.2% in the third quarter. Mutual of America Capital Management LLC now owns 393,902 shares of the bank’s stock valued at $14,578,000 after acquiring an additional 118,830 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in First Financial Bankshares by 37.5% in the third quarter. Natixis Advisors LLC now owns 613,381 shares of the bank’s stock valued at $22,701,000 after acquiring an additional 167,433 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FFIN. Hovde Group raised their price objective on shares of 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. Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, Stephens increased their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th.

First Financial Bankshares Stock Down 2.1 %

Shares of NASDAQ:FFIN opened at $37.32 on Thursday. First Financial Bankshares, Inc. has a 12 month low of $27.62 and a 12 month high of $44.66. The company’s fifty day simple moving average is $37.58 and its 200 day simple moving average is $37.57. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 23.92 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Research analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.15%.

Insider Activity

In other news, CEO F Scott Dueser sold 25,000 shares of First Financial Bankshares stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at $19,183,992.92. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.22% of the company’s stock.

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.