First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5,346.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,897 shares of the bank’s stock after acquiring an additional 7,752 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First Financial Bankshares were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC grew its position in shares of First Financial Bankshares by 3,632.9% in the 2nd quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after buying an additional 2,912,718 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in First Financial Bankshares by 27.6% in the first quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock valued at $109,400,000 after acquiring an additional 720,820 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of First Financial Bankshares by 3.4% during the first quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after purchasing an additional 490,770 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of First Financial Bankshares by 10,296.3% during the second quarter. Cubist Systematic Strategies LLC now owns 189,732 shares of the bank’s stock worth $5,603,000 after purchasing an additional 187,907 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 130,361 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FFIN. Truist Financial increased their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th. Hovde Group raised their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Stephens upped their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $36.45 on Friday. The stock has a market capitalization of $5.21 billion, a P/E ratio of 25.14 and a beta of 0.78. First Financial Bankshares, Inc. has a 1 year low of $24.22 and a 1 year high of $39.53. The company’s fifty day moving average is $36.73 and its two-hundred day moving average is $33.42.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, December 12th. First Financial Bankshares’s dividend payout ratio is presently 49.66%.

First Financial Bankshares Company 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.