KLP Kapitalforvaltning AS Makes New Investment in First Financial Bankshares, Inc. (NASDAQ:FFIN)

KLP Kapitalforvaltning AS bought a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,900 shares of the bank’s stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its stake in First Financial Bankshares by 199.8% in the fourth quarter. Sei Investments Co. now owns 50,220 shares of the bank’s stock valued at $1,810,000 after buying an additional 33,470 shares during the last quarter. Teacher Retirement System of Texas raised its position in First Financial Bankshares by 61.9% in the 4th quarter. Teacher Retirement System of Texas now owns 44,490 shares of the bank’s stock valued at $1,604,000 after purchasing an additional 17,006 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in First Financial Bankshares by 1,497.0% during 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 during the period. Xponance Inc. grew its position in First Financial Bankshares by 5.1% during the 4th quarter. Xponance Inc. now owns 18,380 shares of the bank’s stock worth $663,000 after purchasing an additional 893 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in First Financial Bankshares by 152.5% in the fourth quarter. Intech Investment Management LLC now owns 45,911 shares of the bank’s stock valued at $1,655,000 after purchasing an additional 27,729 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Johnny Trotter acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $35.12 per share, with a total value of $210,720.00. Following the completion of the acquisition, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.22% of the stock is currently owned by corporate insiders.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $35.92 on Tuesday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 23.03 and a beta of 0.78. First Financial Bankshares, Inc. has a 1 year low of $27.62 and a 1 year high of $44.66. The company’s fifty day moving average is $36.88 and its two-hundred day moving average is $37.75.

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

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.15%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased 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.

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.