First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny Buys 5,000 Shares

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny purchased 5,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $36.02 per share, with a total value of $180,100.00. Following the completion of the purchase, the director now directly owns 108,708 shares of the company’s stock, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Financial Bankshares Stock Down 3.0%

Shares of NASDAQ:FFIN opened at $35.56 on Friday. The stock has a market capitalization of $5.09 billion, a PE ratio of 22.79 and a beta of 0.87. The firm’s 50 day moving average price is $34.47 and its 200-day moving average price is $36.18. First Financial Bankshares, Inc. has a twelve month low of $27.69 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.19 dividend. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, June 16th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 46.91%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FFIN shares. Keefe, Bruyette & Woods lowered their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Hovde Group dropped their price target on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st.

Hedge Funds Weigh In On First Financial Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank’s stock worth $508,146,000 after buying an additional 110,923 shares during the period. Champlain Investment Partners LLC increased its holdings in First Financial Bankshares by 5.9% in the 1st quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock worth $104,213,000 after acquiring an additional 161,991 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Financial Bankshares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank’s stock worth $92,733,000 after acquiring an additional 42,280 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in First Financial Bankshares by 36.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after acquiring an additional 652,575 shares during the period. Finally, Northern Trust Corp lifted its holdings in First Financial Bankshares by 8.1% during the fourth quarter. Northern Trust Corp now owns 1,776,607 shares of the bank’s stock valued at $64,047,000 after purchasing an additional 133,274 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.