KLP Kapitalforvaltning AS Takes Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

KLP Kapitalforvaltning AS purchased a new position in First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,900 shares of the bank's stock, valued at approximately $865,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of First Financial Bankshares in the fourth quarter valued at $33,000. R Squared Ltd purchased a new stake in shares of First Financial Bankshares in the fourth quarter worth approximately $88,000. Harvest Fund Management Co. Ltd boosted its position in shares of First Financial Bankshares by 1,497.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,242 shares of the bank's stock valued at $118,000 after buying an additional 3,039 shares during the last quarter. US Bancorp DE grew its holdings in 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 buying an additional 370 shares in the last quarter. Finally, KBC Group NV raised its position 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 buying an additional 1,819 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th.

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Insiders Place Their Bets

In other First Financial Bankshares news, Director Johnny Trotter purchased 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the purchase, the director now owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.22% of the company's stock.

First Financial Bankshares Stock Down 7.7 %

FFIN traded down $2.75 during trading on Thursday, hitting $33.00. 643,397 shares of the company traded hands, compared to its average volume of 532,540. The firm has a market cap of $4.72 billion, a P/E ratio of 21.15 and a beta of 0.78. First Financial Bankshares, Inc. has a one year low of $27.62 and a one year high of $44.66. The stock's fifty day moving average is $36.82 and its 200 day moving average is $37.73.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. On average, equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's dividend payout ratio (DPR) is presently 46.15%.

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.