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

Norges Bank bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,324,735 shares of the bank's stock, valued at approximately $47,757,000. Norges Bank owned approximately 0.93% of First Financial Bankshares at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its position in shares of First Financial Bankshares by 3,508.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after purchasing an additional 2,730,017 shares during the last quarter. State Street Corp raised its holdings in shares of First Financial Bankshares by 4.7% in the third quarter. State Street Corp now owns 6,222,092 shares of the bank's stock worth $231,381,000 after acquiring an additional 281,166 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of First Financial Bankshares by 8.0% in the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank's stock valued at $124,446,000 after acquiring an additional 249,011 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at $8,341,000. Finally, JPMorgan Chase & Co. lifted its holdings in First Financial Bankshares by 48.9% in the 4th quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank's stock valued at $24,777,000 after purchasing an additional 225,574 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

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First Financial Bankshares Stock Performance

First Financial Bankshares stock traded up $1.83 during trading on Wednesday, reaching $33.52. The company had a trading volume of 1,095,327 shares, compared to its average volume of 543,182. First Financial Bankshares, Inc. has a 12-month low of $27.62 and a 12-month high of $44.66. The stock's 50 day moving average price is $36.10 and its two-hundred day moving average price is $37.46. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 21.49 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, research analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.15%. First Financial Bankshares's dividend payout ratio (DPR) is 46.15%.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Johnny Trotter bought 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $35.12 per share, for a total transaction of $210,720.00. Following the acquisition, the director now owns 949,371 shares in the company, valued at $33,341,909.52. This represents a 0.64 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.