Bank of Montreal Can Boosts Stock Position in First Financial Bankshares, Inc. (NASDAQ:FFIN)

Bank of Montreal Can grew its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 11.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,924 shares of the bank’s stock after buying an additional 1,892 shares during the period. Bank of Montreal Can’s holdings in First Financial Bankshares were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in FFIN. First Financial Bankshares Inc purchased a new stake in First Financial Bankshares during the fourth quarter worth approximately $553,577,000. Strategic Financial Concepts LLC lifted its position in shares of First Financial Bankshares by 3,632.9% during the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock worth $884,000 after buying an additional 2,912,718 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of First Financial Bankshares by 27.6% during the 1st quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock worth $109,400,000 after buying an additional 720,820 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after buying an additional 490,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of First Financial Bankshares by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after buying an additional 130,361 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of research reports. Truist Financial boosted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Stephens boosted their target price on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $35.68 on Wednesday. The firm’s fifty day simple moving average is $36.14 and its 200-day simple moving average is $32.65. First Financial Bankshares, Inc. has a 12 month low of $22.84 and a 12 month high of $39.53. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 25.49 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The company had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. Analysts anticipate that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 2.02%. First Financial Bankshares’s payout ratio is 51.43%.

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.