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

Key Points

  • Director Michael Denny bought 3,000 FFIN shares at an average price of $34.66, investing $103,980 and increasing his ownership by 85.71% to 6,500 shares.
  • First Financial Bankshares reported quarterly EPS of $0.50, matching estimates, while revenue was $172.76 million. The company also declared a quarterly dividend of $0.22 per share, representing a 2.6% annualized yield.
  • Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $36.75 versus the reported share price of $34.23.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Michael Denny purchased 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average price of $34.66 per share, with a total value of $103,980.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $34.23 on Friday. First Financial Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $38.12. The company has a market capitalization of $4.91 billion, a P/E ratio of 18.30 and a beta of 0.81. The company's fifty day moving average is $34.58 and its two-hundred day moving average is $32.69.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting 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 period in the previous year, the business posted $0.47 earnings per share. As a group, equities analysts expect that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Announces Dividend




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

Hedge Funds Weigh In On First Financial Bankshares

A number of large investors have recently bought and sold shares of FFIN. Quarry LP lifted its stake in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank's stock worth $35,000 after acquiring an additional 409 shares during the period. Danske Bank A S raised its holdings 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 worth $36,000 after purchasing an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in First Financial Bankshares in the fourth quarter valued at about $44,000. CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares in the third quarter valued at about $50,000. Finally, State of Wyoming acquired a new stake in First Financial Bankshares in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on FFIN. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Weiss Ratings upgraded First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Finally, Benchmark began coverage on First Financial Bankshares in a report on Wednesday, June 24th. They issued a "buy" rating and a $39.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

Check Out Our Latest Stock Report on First Financial Bankshares

About First Financial Bankshares

(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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