Norges Bank Invests $47.76 Million in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Norges Bank acquired a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,324,735 shares of the bank’s stock, valued at approximately $47,757,000. Norges Bank owned 0.93% of First Financial Bankshares as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. bought a new stake in shares of First Financial Bankshares during the fourth quarter valued at about $33,000. R Squared Ltd bought a new stake in First Financial Bankshares during the 4th quarter worth approximately $88,000. Harvest Fund Management Co. Ltd lifted its stake in First Financial Bankshares by 1,497.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank’s stock worth $118,000 after purchasing an additional 3,039 shares in the last quarter. KBC Group NV boosted its holdings in First Financial Bankshares by 50.5% in the 4th quarter. KBC Group NV now owns 5,422 shares of the bank’s stock valued at $195,000 after purchasing an additional 1,819 shares during the period. Finally, US Bancorp DE grew its position in shares of First Financial Bankshares by 7.4% during the 4th quarter. US Bancorp DE now owns 5,396 shares of the bank’s stock valued at $195,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $32.17 on Friday. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The firm has a market cap of $4.60 billion, a PE ratio of 20.62 and a beta of 0.78. The company has a 50 day simple moving average of $36.63 and a two-hundred day simple moving average of $37.66.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. As a group, research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares’s payout ratio is currently 46.15%.

Insider Activity

In other news, Director Johnny Trotter bought 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares in the company, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.22% of the company’s stock.

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.