Michael Denny Acquires 3,000 Shares of First Financial Bankshares (NASDAQ:FFIN) Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael Denny purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $34.66 per share, with a total value of $103,980.00. Following the acquisition, the director directly owned 6,500 shares of the company’s stock, valued at $225,290. This represents a 85.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Financial Bankshares Stock Performance

FFIN traded up $0.13 during mid-day trading on Thursday, reaching $34.25. 239,522 shares of the stock were exchanged, compared to its average volume of 824,852. First Financial Bankshares, Inc. has a 1 year low of $28.11 and a 1 year high of $38.12. The stock has a market capitalization of $4.91 billion, a PE ratio of 18.32 and a beta of 0.81. The company has a 50 day moving average price of $34.56 and a two-hundred day moving average price of $32.67.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $173.03 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Sell-side analysts expect that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be paid a $0.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.6%. First Financial Bankshares’s dividend payout ratio (DPR) is 47.06%.

Institutional Trading of First Financial Bankshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in 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 purchasing an additional 409 shares during the period. Danske Bank A S increased its position in shares of First Financial Bankshares by 200.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after buying an additional 800 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of First Financial Bankshares in the fourth quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new stake in shares of First Financial Bankshares in the third quarter worth about $50,000. Finally, State of Wyoming bought a new position in shares of First Financial Bankshares in the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analyst Upgrades and Downgrades

FFIN has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Benchmark started coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective on the stock. Finally, Weiss Ratings raised First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

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.