Key Points
- Director Michael Denny purchased 3,245 FFIN shares at an average price of $30.76, investing approximately $99,816 and increasing his direct ownership by 49.92% to 9,745 shares.
- First Financial Bankshares reported quarterly EPS of $0.52, matching analyst expectations, while revenue of $174.14 million fell short of the $178.63 million consensus estimate.
- The stock opened at $30.59, below its 50- and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $35.20, while institutional investors own 69.78% of shares.
First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Michael Denny acquired 3,245 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, October 29th. The stock was acquired at an average cost of $30.76 per share, with a total value of $99,816.20. Following the purchase, the director directly owned 9,745 shares of the company's stock, valued at $299,756.20. This represents a 49.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
First Financial Bankshares Trading Down 0.5%
Shares of NASDAQ FFIN opened at $30.59 on Friday. The stock has a market capitalization of $4.38 billion, a PE ratio of 15.15 and a beta of 0.82. The stock's fifty day simple moving average is $32.02 and its two-hundred day simple moving average is $32.50. First Financial Bankshares, Inc. has a 12-month low of $28.11 and a 12-month high of $36.52.
First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The firm had revenue of $174.14 million during the quarter, compared to analysts' expectations of $178.63 million. During the same period in the prior year, the business posted $0.36 EPS. On average, equities analysts predict that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FFIN. Excelsior Advisor Network LLC acquired a new stake in First Financial Bankshares in the first quarter worth about $6,903,000. Dimensional Fund Advisors LP grew its stake in shares of First Financial Bankshares by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,760,965 shares of the bank's stock worth $81,309,000 after acquiring an additional 45,052 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of First Financial Bankshares during the second quarter worth about $1,466,000. Sei Investments Co. grew its stake in shares of First Financial Bankshares by 60.0% during the first quarter. Sei Investments Co. now owns 112,380 shares of the bank's stock worth $3,309,000 after acquiring an additional 42,138 shares during the last quarter. Finally, Core Capital Management & Research inc. purchased a new stake in shares of First Financial Bankshares during the second quarter worth about $1,381,000. 69.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Hovde Group started coverage on shares of First Financial Bankshares in a report on Friday, September 11th. They issued a "market perform" rating and a $36.00 price target on the stock. Weiss Ratings downgraded shares of First Financial Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Seaport Research Partners upgraded shares of First Financial Bankshares to a "buy" rating in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $34.00 target price (down from $35.00) on shares of First Financial Bankshares in a research report on Friday, October 16th. Finally, Cantor Fitzgerald lowered their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.20.
Get Our Latest Report on First Financial Bankshares
About First Financial Bankshares
(
Get Free Report)
First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.
First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.
Further Reading
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