Ontario Teachers Pension Plan Board Reduces Stock Holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Ontario Teachers Pension Plan Board cut its position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 17.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,873 shares of the bank’s stock after selling 2,897 shares during the period. Ontario Teachers Pension Plan Board’s holdings in First Financial Bankshares were worth $513,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in shares of First Financial Bankshares by 28.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 47,936 shares of the bank’s stock worth $1,529,000 after buying an additional 10,710 shares during the last quarter. Vanguard Group Inc. increased its stake in First Financial Bankshares by 3.4% during the first quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after acquiring an additional 490,770 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in First Financial Bankshares in the first quarter valued at $370,000. O Shaughnessy Asset Management LLC grew its holdings in shares of First Financial Bankshares by 29.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,709 shares of the bank’s stock worth $614,000 after purchasing an additional 4,221 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of First Financial Bankshares by 30.3% during the 1st quarter. Bessemer Group Inc. now owns 44,300 shares of the bank’s stock worth $1,454,000 after purchasing an additional 10,295 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Up 2.0 %

Shares of FFIN stock opened at $41.43 on Friday. First Financial Bankshares, Inc. has a 12 month low of $25.99 and a 12 month high of $43.57. The company has a market cap of $5.92 billion, a P/E ratio of 28.57 and a beta of 0.78. The firm has a fifty day moving average price of $38.07 and a 200 day moving average price of $34.45.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $142.10 million during the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. On average, equities analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is 49.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FFIN. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Stephens raised their price objective on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Hovde Group upped their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the sale, the director now owns 101,085 shares in the company, valued at $4,156,615.20. This represents a 6.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.22% of the stock is owned by company insiders.

First Financial Bankshares Company 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.