First Financial Bankshares, Inc. (NASDAQ:FFIN) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of First Financial Bankshares, Inc. (NASDAQ:FFINGet Rating) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 512,631 shares of the bank’s stock after acquiring an additional 66,190 shares during the period. Principal Financial Group Inc.’s holdings in First Financial Bankshares were worth $20,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in First Financial Bankshares by 803.8% during the first quarter. Steward Partners Investment Advisory LLC now owns 705 shares of the bank’s stock worth $31,000 after acquiring an additional 627 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of First Financial Bankshares by 807.3% during the first quarter. Meeder Asset Management Inc. now owns 1,116 shares of the bank’s stock worth $49,000 after buying an additional 993 shares in the last quarter. Allworth Financial LP grew its holdings in shares of First Financial Bankshares by 9,673.7% during the second quarter. Allworth Financial LP now owns 1,857 shares of the bank’s stock worth $73,000 after buying an additional 1,838 shares in the last quarter. Burleson & Company LLC purchased a new stake in shares of First Financial Bankshares during the second quarter worth about $79,000. Finally, Washington Trust Advisors Inc. grew its holdings in shares of First Financial Bankshares by 1,640.3% during the first quarter. Washington Trust Advisors Inc. now owns 2,593 shares of the bank’s stock worth $115,000 after buying an additional 2,444 shares in the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FFIN. Truist Financial lifted their price target on shares of First Financial Bankshares to $46.00 in a report on Monday, July 25th. StockNews.com began coverage on shares of First Financial Bankshares in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Stephens boosted their target price on shares of First Financial Bankshares to $44.00 in a report on Tuesday, July 26th.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $36.49 on Tuesday. First Financial Bankshares, Inc. has a 1 year low of $35.74 and a 1 year high of $55.00. The firm has a 50 day moving average price of $40.64 and a 200 day moving average price of $41.35. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 22.66 and a beta of 0.77.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.86%. First Financial Bankshares’s payout ratio is 42.24%.

Insider Activity at First Financial Bankshares

In related news, CEO F Scott Dueser bought 1,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was purchased at an average cost of $37.59 per share, for a total transaction of $37,590.00. Following the completion of the acquisition, the chief executive officer now owns 940,814 shares in the company, valued at $35,365,198.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Financial Bankshares news, Director Johnny Trotter purchased 4,000 shares of First Financial Bankshares stock in a transaction on Tuesday, October 25th. The shares were purchased at an average cost of $36.94 per share, with a total value of $147,760.00. Following the completion of the transaction, the director now directly owns 902,057 shares in the company, valued at approximately $33,321,985.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Scott Dueser purchased 1,000 shares of First Financial Bankshares stock in a transaction on Wednesday, October 26th. The shares were acquired at an average cost of $37.59 per share, for a total transaction of $37,590.00. Following the completion of the transaction, the chief executive officer now owns 940,814 shares of the company’s stock, valued at $35,365,198.26. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 9,606 shares of company stock worth $378,745. 4.19% of the stock is owned by company insiders.

First Financial Bankshares Company Profile

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

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Institutional Ownership by Quarter for First Financial Bankshares (NASDAQ:FFIN)

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