Ontario Teachers Pension Plan Board Buys 9,271 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in First Financial Bankshares, Inc. by 47.7%, acquiring an additional 9,271 shares, bringing their total to 28,725 shares valued at approximately $1,032,000.
• Analysts have recently raised their target prices for First Financial Bankshares, with Keefe, Bruyette & Woods increasing their target from $36.00 to $38.00 and Hovde Group raising theirs from $38.00 to $39.00.
• First Financial Bankshares declared a quarterly dividend of $0.19, to be paid on October 1st, representing an annualized yield of 2.2% with a current dividend payout ratio of 44.19%.

Ontario Teachers Pension Plan Board grew its holdings in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 47.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,725 shares of the bank's stock after purchasing an additional 9,271 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in First Financial Bankshares were worth $1,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FFIN. Fifth Third Bancorp boosted its stake in First Financial Bankshares by 161.5% during the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock worth $26,000 after acquiring an additional 441 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in First Financial Bankshares during the 1st quarter worth approximately $26,000. Assetmark Inc. boosted its stake in First Financial Bankshares by 76.5% during the 1st quarter. Assetmark Inc. now owns 1,629 shares of the bank's stock worth $59,000 after acquiring an additional 706 shares during the last quarter. UMB Bank n.a. boosted its stake in First Financial Bankshares by 245.6% during the 1st quarter. UMB Bank n.a. now owns 1,904 shares of the bank's stock worth $68,000 after acquiring an additional 1,353 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in First Financial Bankshares by 89.9% during the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock worth $69,000 after acquiring an additional 912 shares during the last quarter. Institutional investors own 69.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FFIN shares. Keefe, Bruyette & Woods lifted their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th. Hovde Group raised their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a report on Monday, July 21st.

Insider Buying and Selling

In related news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the acquisition, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought a total of 5,850 shares of company stock worth $210,839 over the last three months. 3.96% of the stock is currently owned by insiders.

First Financial Bankshares Price Performance

FFIN stock traded up $1.14 during midday trading on Tuesday, reaching $35.04. 397,204 shares of the company were exchanged, compared to its average volume of 530,124. The business has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $35.63. First Financial Bankshares, Inc. has a one year low of $30.58 and a one year high of $44.66. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 20.37 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. The company had revenue of $156.60 million during the quarter, compared to analysts' expectations of $156.41 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.2%. First Financial Bankshares's payout ratio is presently 44.19%.

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.