Key Points
- Director Murray Edwards bought 800 First Financial Bankshares shares for about $24,424, increasing his stake by 1.79% to 45,434 shares.
- The bank matched quarterly EPS expectations at $0.52, while revenue of $174.14 million came in below analysts’ $178.63 million forecast.
- Analysts’ consensus rating is Hold, with a $35.20 average price target; shares opened at $31.04 in the reported session.
First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Murray Edwards acquired 800 shares of the business's stock in a transaction dated Friday, October 30th. The stock was acquired at an average cost of $30.53 per share, with a total value of $24,424.00. Following the purchase, the director directly owned 45,434 shares in the company, valued at $1,387,100.02. This represents a 1.79% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
First Financial Bankshares Stock Performance
FFIN stock opened at $31.04 on Wednesday. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $36.52. The firm's fifty day moving average is $31.91 and its 200 day moving average is $32.49. The firm has a market cap of $4.45 billion, a P/E ratio of 15.49 and a beta of 0.80.
First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, October 15th. The bank reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $174.14 million for the quarter, compared to analysts' expectations of $178.63 million. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. During the same quarter last year, the company earned $0.36 EPS. As a group, analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current year.
Hedge Funds Weigh In On First Financial Bankshares
Several hedge funds have recently made changes to their positions in the business. Mather Group LLC. purchased a new stake in First Financial Bankshares in the third quarter worth $25,000. Root Financial Partners LLC purchased a new position in First Financial Bankshares during the 3rd quarter valued at $34,000. Parallel Advisors LLC increased its position in First Financial Bankshares by 83.5% during the 1st quarter. Parallel Advisors LLC now owns 1,885 shares of the bank's stock valued at $56,000 after purchasing an additional 858 shares during the period. IFP Advisors Inc increased its position in First Financial Bankshares by 1,708.2% during the 2nd quarter. IFP Advisors Inc now owns 1,754 shares of the bank's stock valued at $61,000 after purchasing an additional 1,657 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in First Financial Bankshares by 33.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,232 shares of the bank's stock worth $71,000 after purchasing an additional 556 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $34.00 price objective (down from $35.00) on shares of First Financial Bankshares in a report on Friday, October 16th. Seaport Research Partners raised First Financial Bankshares to a "buy" rating in a research note on Wednesday, October 14th. Hovde Group began coverage on First Financial Bankshares in a report on Friday, September 11th. They set a "market perform" rating and a $36.00 target price for the company. Cantor Fitzgerald dropped their target price on First Financial Bankshares from $35.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, October 14th. Finally, Weiss Ratings lowered First Financial Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.20.
Check Out Our Latest Stock Analysis on FFIN
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.
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