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

Allspring Global Investments Holdings LLC grew its position in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 5,346.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,897 shares of the bank’s stock after buying an additional 7,752 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Financial Bankshares were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FFIN. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares in the second quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new position in shares of First Financial Bankshares during the 2nd quarter worth approximately $41,000. Quarry LP purchased a new stake in First Financial Bankshares in the 2nd quarter valued at approximately $83,000. Point72 DIFC Ltd acquired a new stake in First Financial Bankshares during the 2nd quarter valued at $97,000. Finally, Point72 Asset Management L.P. purchased a new position in First Financial Bankshares during the second quarter worth $118,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

FFIN opened at $36.45 on Friday. The stock has a market capitalization of $5.21 billion, a PE ratio of 25.14 and a beta of 0.78. The company’s 50 day simple moving average is $36.73 and its 200 day simple moving average is $33.42. First Financial Bankshares, Inc. has a 1 year low of $24.22 and a 1 year high of $39.53.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, December 12th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 49.66%.

Wall Street Analyst Weigh In

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

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.