Connor Clark & Lunn Investment Management Ltd. Makes New Investment in First Financial Bankshares, Inc. $FFIN

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,023 shares of the bank’s stock, valued at approximately $469,000.

Several other large investors have also recently made changes to their positions in FFIN. Raymond James Financial Inc. raised its holdings in First Financial Bankshares by 25.2% in the first quarter. Raymond James Financial Inc. now owns 289,652 shares of the bank’s stock worth $10,404,000 after purchasing an additional 58,291 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of First Financial Bankshares in the 2nd quarter worth approximately $2,691,000. Hsbc Holdings PLC bought a new position in shares of First Financial Bankshares during the 1st quarter worth approximately $1,022,000. Strs Ohio bought a new position in shares of First Financial Bankshares during the 1st quarter worth approximately $402,000. Finally, Mutual of America Capital Management LLC lifted its position in First Financial Bankshares by 10.8% during the second quarter. Mutual of America Capital Management LLC now owns 484,812 shares of the bank’s stock valued at $17,444,000 after acquiring an additional 47,118 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FFIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research note on Friday, October 24th. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target for the company. Finally, Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, First Financial Bankshares presently has an average rating of “Hold” and a consensus price target of $38.00.

Insider Buying and Selling

In other First Financial Bankshares news, Director Sally Pope Davis bought 1,700 shares of First Financial Bankshares stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $30.73 per share, with a total value of $52,241.00. Following the completion of the acquisition, the director directly owned 6,971 shares in the company, valued at approximately $214,218.83. This trade represents a 32.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle S. Hickox bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $31.15 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief financial officer directly owned 24,461 shares of the company’s stock, valued at $761,960.15. This trade represents a 8.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,353 shares of company stock valued at $134,888 over the last three months. 4.22% of the stock is currently owned by insiders.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $30.33 on Friday. The business has a fifty day moving average of $32.51 and a 200 day moving average of $34.77. First Financial Bankshares, Inc. has a 1 year low of $29.80 and a 1 year high of $44.66. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.95 and a beta of 0.88.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. The firm had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.21 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities 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 will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, December 15th. First Financial Bankshares’s dividend payout ratio is 44.97%.

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.