First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Bought by State Street Corp

State Street Corp lifted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,222,092 shares of the bank's stock after buying an additional 281,166 shares during the quarter. State Street Corp owned approximately 4.35% of First Financial Bankshares worth $231,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Champlain Investment Partners LLC boosted its holdings in First Financial Bankshares by 6.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank's stock worth $130,139,000 after buying an additional 223,640 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of First Financial Bankshares by 3,632.9% in the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank's stock valued at $884,000 after acquiring an additional 2,912,718 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Financial Bankshares by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank's stock worth $75,482,000 after acquiring an additional 130,361 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of First Financial Bankshares by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,701,180 shares of the bank's stock worth $62,961,000 after purchasing an additional 62,538 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in First Financial Bankshares by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank's stock valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Insider Activity

In other news, Director Michael B. Denny sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company's stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.22% of the company's stock.

First Financial Bankshares Trading Down 1.3 %

First Financial Bankshares stock traded down $0.55 during midday trading on Thursday, hitting $40.63. 346,272 shares of the stock were exchanged, compared to its average volume of 534,039. The stock's 50-day simple moving average is $39.28 and its 200 day simple moving average is $35.51. First Financial Bankshares, Inc. has a fifty-two week low of $27.06 and a fifty-two week high of $44.66. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 28.26 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The business had revenue of $142.10 million during the quarter, compared to the consensus estimate of $140.25 million. Equities analysts anticipate that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 1.77%. First Financial Bankshares's dividend payout ratio is currently 49.66%.

Analysts Set New Price Targets

FFIN has been the subject of a number of research reports. Stephens upped their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $36.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Truist Financial increased their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a report on Friday, September 20th. Finally, Hovde Group boosted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the stock a "market perform" rating in a report on Monday, October 21st.

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.