First Financial Bankshares (NASDAQ:FFIN) Director Acquires $103,980.00 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael Denny bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the transaction, the director owned 6,500 shares in the company, valued at $225,290. This trade represents a 85.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN opened at $34.13 on Friday. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $38.12. The firm has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $32.70. The stock has a market cap of $4.89 billion, a P/E ratio of 18.25 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The company had revenue of $172.76 million for the quarter, compared to analyst estimates of $173.03 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. Analysts predict that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 14th. First Financial Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Institutional Investors Weigh In On First Financial Bankshares

Large investors have recently modified their holdings of the company. Quarry LP raised its stake in First Financial Bankshares by 66.3% during the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after buying an additional 409 shares during the last quarter. Danske Bank A S boosted its position in First Financial Bankshares by 200.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in First Financial Bankshares during the 4th quarter worth about $44,000. CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares during the 3rd quarter worth about $50,000. Finally, State of Wyoming bought a new position in shares of First Financial Bankshares in the 2nd quarter worth about $54,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Benchmark initiated coverage on First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Weiss Ratings raised First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.