Canada Pension Plan Investment Board Acquires New Stake in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Canada Pension Plan Investment Board purchased a new stake in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,600 shares of the bank's stock, valued at approximately $887,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in shares of First Financial Bankshares by 2.3% in the fourth quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock valued at $480,000 after acquiring an additional 295 shares during the period. Arizona State Retirement System boosted its holdings in First Financial Bankshares by 0.9% in the 4th quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock valued at $1,271,000 after purchasing an additional 302 shares during the period. Kingsview Wealth Management LLC grew its position in shares of First Financial Bankshares by 1.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank's stock worth $961,000 after purchasing an additional 312 shares in the last quarter. US Bancorp DE increased its holdings in shares of First Financial Bankshares by 7.4% during the fourth quarter. US Bancorp DE now owns 5,396 shares of the bank's stock worth $195,000 after purchasing an additional 370 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of First Financial Bankshares by 2.3% in the fourth quarter. Pacer Advisors Inc. now owns 19,170 shares of the bank's stock valued at $691,000 after buying an additional 432 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on First Financial Bankshares from $38.00 to $36.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Hovde Group reduced their target price on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 6,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $35.12 per share, with a total value of $210,720.00. Following the completion of the purchase, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This trade represents a 0.64 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 4.22% of the stock is owned by insiders.

First Financial Bankshares Price Performance

FFIN traded down $0.27 during trading on Wednesday, hitting $33.51. 529,751 shares of the stock traded hands, compared to its average volume of 543,551. The business has a 50 day moving average price of $34.68 and a 200 day moving average price of $37.08. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 21.48 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The business had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. On average, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a $0.19 dividend. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date is Monday, June 16th. This represents a $0.76 annualized dividend and a yield of 2.27%. First Financial Bankshares's dividend payout ratio is presently 44.44%.

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.