Robert Clark Nickles, Jr. Purchases 629 Shares of First Financial Bankshares (NASDAQ:FFIN) Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Robert Clark Nickles, Jr. purchased 629 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average cost of $32.54 per share, with a total value of $20,467.66. Following the completion of the purchase, the director owned 96,960 shares of the company’s stock, valued at $3,155,078.40. The trade was a 0.65% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

First Financial Bankshares Price Performance

NASDAQ:FFIN opened at $34.16 on Thursday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 19.30 and a beta of 0.86. First Financial Bankshares, Inc. has a 1 year low of $29.43 and a 1 year high of $38.74. The stock’s 50 day simple moving average is $31.59 and its two-hundred day simple moving average is $33.12.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The company had revenue of $164.72 million for the quarter, compared to the consensus estimate of $165.70 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. First Financial Bankshares’s revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, March 13th. First Financial Bankshares’s dividend payout ratio is presently 42.94%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FFIN. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Finally, Hovde Group raised shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC boosted its position in First Financial Bankshares by 3.0% during the fourth quarter. Ballentine Partners LLC now owns 13,482 shares of the bank’s stock valued at $403,000 after purchasing an additional 391 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of First Financial Bankshares in the 4th quarter worth approximately $206,000. Truist Financial Corp raised its stake in shares of First Financial Bankshares by 8.9% during the 4th quarter. Truist Financial Corp now owns 8,480 shares of the bank’s stock worth $253,000 after acquiring an additional 692 shares in the last quarter. Danske Bank A S boosted its stake in First Financial Bankshares by 200.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 800 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of First Financial Bankshares by 20.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 71,348 shares of the bank’s stock worth $2,131,000 after purchasing an additional 11,883 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

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.