KLP Kapitalforvaltning AS Buys 1,300 Shares of First Financial Bankshares, Inc. $FFIN

KLP Kapitalforvaltning AS raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,200 shares of the bank’s stock after acquiring an additional 1,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in First Financial Bankshares were worth $911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Champlain Investment Partners LLC increased its holdings in First Financial Bankshares by 5.9% in the 1st quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock valued at $104,213,000 after acquiring an additional 161,991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in First Financial Bankshares by 36.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock valued at $88,571,000 after acquiring an additional 652,575 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in First Financial Bankshares by 125.7% in the 1st quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock valued at $38,993,000 after acquiring an additional 604,648 shares during the last quarter. Nuveen LLC purchased a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $34,662,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of First Financial Bankshares by 4.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 953,592 shares of the bank’s stock valued at $34,253,000 after buying an additional 37,733 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $32.83 on Thursday. First Financial Bankshares, Inc. has a 1-year low of $30.58 and a 1-year high of $44.66. The firm has a market capitalization of $4.70 billion, a P/E ratio of 19.09 and a beta of 0.86. The company’s 50-day moving average is $35.16 and its 200 day moving average is $35.12.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $156.41 million. During the same period in the prior year, the company posted $0.37 EPS. Research analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 15th. First Financial Bankshares’s dividend payout ratio is 44.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FFIN. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday. Cantor Fitzgerald began coverage on shares of First Financial Bankshares in a research report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Finally, Hovde Group upped their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research report on Monday, July 21st. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.00.

First Financial Bankshares 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.