Insider Buying: First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Buys $18,726.00 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny purchased 600 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $31.21 per share, for a total transaction of $18,726.00. Following the completion of the transaction, the director now directly owns 104,585 shares in the company, valued at $3,264,097.85. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $30.87 on Thursday. First Financial Bankshares, Inc. has a 52-week low of $22.84 and a 52-week high of $33.15. The business’s 50 day simple moving average is $30.89 and its 200 day simple moving average is $29.44. The firm has a market cap of $4.41 billion, a PE ratio of 22.05 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The company had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 1.47 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. First Financial Bankshares’s dividend payout ratio is 51.43%.

Institutional Trading of First Financial Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its position in First Financial Bankshares by 28.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 47,936 shares of the bank’s stock worth $1,529,000 after acquiring an additional 10,710 shares in the last quarter. ProShare Advisors LLC grew its holdings in First Financial Bankshares by 4.8% during the first quarter. ProShare Advisors LLC now owns 29,704 shares of the bank’s stock worth $975,000 after purchasing an additional 1,354 shares during the period. Rosenthal Henry Capital Advisors Inc. increased its position in First Financial Bankshares by 70.2% during the first quarter. Rosenthal Henry Capital Advisors Inc. now owns 74,200 shares of the bank’s stock worth $2,435,000 after buying an additional 30,600 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of First Financial Bankshares in the first quarter valued at approximately $228,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of First Financial Bankshares by 10.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,243 shares of the bank’s stock worth $336,000 after acquiring an additional 955 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FFIN shares. Stephens cut their target price on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Truist Financial decreased their target price on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.33.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.