Bank of Nova Scotia Makes New Investment in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bank of Nova Scotia acquired a new position in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,763 shares of the bank’s stock, valued at approximately $301,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new position in First Financial Bankshares during the 4th quarter worth $34,000. Parallel Advisors LLC increased its stake in First Financial Bankshares by 104.7% during the 4th quarter. Parallel Advisors LLC now owns 1,132 shares of the bank’s stock worth $39,000 after acquiring an additional 579 shares during the period. Quadrant Capital Group LLC increased its stake in First Financial Bankshares by 46.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,101 shares of the bank’s stock worth $46,000 after acquiring an additional 347 shares during the period. Signaturefd LLC increased its stake in shares of First Financial Bankshares by 62.7% in the 3rd quarter. Signaturefd LLC now owns 1,199 shares of the bank’s stock valued at $50,000 after purchasing an additional 462 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of First Financial Bankshares in the 4th quarter valued at $70,000. Institutional investors own 53.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FFIN. StockNews.com began coverage on First Financial Bankshares in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Truist Financial decreased their price target on First Financial Bankshares from $38.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, March 23rd. Stephens decreased their price target on First Financial Bankshares from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, April 21st. Finally, Piper Sandler decreased their price target on First Financial Bankshares from $28.00 to $26.00 in a research note on Friday, April 21st.

Insider Activity at First Financial Bankshares

In other news, Director Robert Clark Nickles, Jr. acquired 18,387 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average price of $26.19 per share, with a total value of $481,555.53. Following the acquisition, the director now directly owns 91,172 shares in the company, valued at approximately $2,387,794.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michelle S. Hickox bought 1,700 shares of the business’s stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $29.45 per share, with a total value of $50,065.00. Following the acquisition, the chief financial officer now owns 12,700 shares of the company’s stock, valued at $374,015. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Clark Nickles, Jr. bought 18,387 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average cost of $26.19 per share, for a total transaction of $481,555.53. Following the completion of the acquisition, the director now directly owns 91,172 shares in the company, valued at approximately $2,387,794.68. The disclosure for this purchase can be found here. Insiders have bought a total of 41,733 shares of company stock valued at $1,222,342 in the last 90 days. 4.11% of the stock is owned by corporate insiders.

First Financial Bankshares Stock Down 2.4 %

NASDAQ FFIN opened at $26.68 on Friday. First Financial Bankshares, Inc. has a twelve month low of $25.01 and a twelve month high of $47.26. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 16.57 and a beta of 0.73. The business’s fifty day moving average is $29.16 and its 200 day moving average is $33.35.

First Financial Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a dividend of $0.18 per share. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.70%. First Financial Bankshares’s dividend payout ratio (DPR) is 42.24%.

First Financial Bankshares Company Profile

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First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.