Key Points
- Insider purchase: First Financial Bankshares CFO Michelle Hickox bought 1,000 shares on March 9 at an average price of $29.50, increasing her ownership to 11,861 shares (a 9.21% rise) valued at about $349,900.
- Quarterly results: The bank reported Q earnings of $0.51 per share versus $0.48 expected and revenue of $164.72 million (up 13.1% year-over-year), with a net margin of 30.43% and ROE of 14.16%.
- Dividend announced: First Financial declared a $0.19 quarterly dividend (annualized $0.76) with an ex-dividend/record date of March 13 and payment on April 1, implying a yield of about 2.6%.
First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) CFO Michelle Hickox bought 1,000 shares of the firm's stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $29,500.00. Following the completion of the acquisition, the chief financial officer owned 11,861 shares in the company, valued at approximately $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
First Financial Bankshares Stock Down 1.0%
Shares of NASDAQ:FFIN traded down $0.31 during midday trading on Thursday, hitting $29.57. The stock had a trading volume of 181,104 shares, compared to its average volume of 834,755. The company's 50-day moving average price is $32.18 and its 200-day moving average price is $32.55. First Financial Bankshares, Inc. has a fifty-two week low of $28.54 and a fifty-two week high of $38.74. The company has a market capitalization of $4.24 billion, a P/E ratio of 16.68 and a beta of 0.83.
First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The business had revenue of $164.72 million for the quarter, compared to analyst estimates of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. Research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.
First Financial Bankshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. First Financial Bankshares's dividend payout ratio (DPR) is currently 42.94%.
Hedge Funds Weigh In On First Financial Bankshares
A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in First Financial Bankshares during the 4th quarter worth approximately $44,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of First Financial Bankshares by 9.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,125,375 shares of the bank's stock worth $33,615,000 after buying an additional 98,134 shares during the last quarter. VARCOV Co. acquired a new position in shares of First Financial Bankshares during the fourth quarter worth $278,000. Voloridge Investment Management LLC increased its holdings in shares of First Financial Bankshares by 174.3% during the fourth quarter. Voloridge Investment Management LLC now owns 478,470 shares of the bank's stock worth $14,292,000 after buying an additional 304,053 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of First Financial Bankshares by 460.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank's stock valued at $15,032,000 after acquiring an additional 413,376 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "hold (c)" rating on shares of First Financial Bankshares in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.00.
View Our Latest Research Report on FFIN
First Financial Bankshares Company Profile
(
Get Free Report)
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.
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