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

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

Several other hedge funds also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its holdings in shares of First Financial Bankshares by 28.8% in 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 period. Vanguard Group Inc. grew its holdings in First Financial Bankshares by 3.4% during the 1st 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 in the last quarter. Edgestream Partners L.P. purchased a new position in First Financial Bankshares during the 1st quarter valued at about $370,000. O Shaughnessy Asset Management LLC raised its holdings in shares of First Financial Bankshares by 29.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,709 shares of the bank’s stock valued at $614,000 after purchasing an additional 4,221 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of First Financial Bankshares by 30.3% in 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 period. Institutional investors own 69.78% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This trade represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.22% of the company’s stock.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $41.43 on Friday. The stock has a market cap of $5.92 billion, a PE ratio of 28.57 and a beta of 0.78. The stock has a 50-day moving average of $38.07 and a two-hundred day moving average of $34.45. First Financial Bankshares, Inc. has a one year low of $25.99 and a one year high of $43.57.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. As a group, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

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

About First Financial Bankshares

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.