Key Points
- Director Robert Clark Nickles Jr. purchased 664 shares at $31.96 on May 5 for $21,221.44, increasing his holding to 97,624 shares (a 0.68% rise) valued at about $3.12 million.
- First Financial raised its quarterly dividend to $0.22 from $0.19 (annualized $0.88), payable July 1 with an ex-dividend date of June 12, implying a yield of about 2.7% and a payout ratio of 47.83%.
- The bank reported Q1 EPS of $0.50 (beating the $0.47 estimate) with revenue roughly in line, while analysts maintain a consensus "Hold" rating and an average target price of $37.33.
First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Robert Clark Nickles, Jr. purchased 664 shares of the stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average price of $31.96 per share, for a total transaction of $21,221.44. Following the completion of the acquisition, the director directly owned 97,624 shares in the company, valued at approximately $3,120,063.04. This represents a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
First Financial Bankshares Price Performance
Shares of FFIN stock opened at $32.60 on Thursday. First Financial Bankshares, Inc. has a 1-year low of $28.11 and a 1-year high of $38.74. The stock's fifty day moving average price is $30.78 and its 200 day moving average price is $31.39. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 17.72 and a beta of 0.83.
First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.The firm had revenue of $166.89 million for the quarter, compared to the consensus estimate of $166.78 million. During the same period in the previous year, the business earned $0.43 EPS. As a group, equities research analysts anticipate that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.
First Financial Bankshares Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.22 per share. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.19. The ex-dividend date is Friday, June 12th. This represents a $0.88 annualized dividend and a yield of 2.7%. First Financial Bankshares's dividend payout ratio (DPR) is presently 47.83%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new position in shares of First Financial Bankshares in the third quarter worth about $25,000. Olistico Wealth LLC purchased a new position in shares of First Financial Bankshares in the fourth quarter worth about $30,000. Quarry LP raised its stake in shares of First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank's stock worth $35,000 after purchasing an additional 409 shares during the last quarter. Danske Bank A S raised its stake in shares of First Financial Bankshares by 200.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after purchasing an additional 800 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of First Financial Bankshares in the fourth quarter worth about $44,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
FFIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research note on Thursday, April 9th. Weiss Ratings restated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $37.33.
Get Our Latest Stock 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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