First Financial Bankshares (NASDAQ:FFIN) Director Murray Hamilton Edwards Purchases 500 Shares of Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Murray Hamilton Edwards purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $34.18 per share, with a total value of $17,090.00. Following the completion of the purchase, the director directly owned 42,634 shares of the company’s stock, valued at approximately $1,457,230.12. This represents a 1.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

First Financial Bankshares Trading Up 1.6%

FFIN stock opened at $34.78 on Friday. First Financial Bankshares, Inc. has a 12-month low of $29.43 and a 12-month high of $38.74. The stock’s 50 day simple moving average is $31.72 and its 200 day simple moving average is $33.10. The firm has a market cap of $4.98 billion, a P/E ratio of 19.65 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $164.72 million during the quarter, compared to analyst estimates of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. On average, research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock valued at $642,573,000 after purchasing an additional 21,511,608 shares during the period. Geode Capital Management LLC boosted its holdings in shares of First Financial Bankshares by 1.8% in the second quarter. Geode Capital Management LLC now owns 3,452,051 shares of the bank’s stock worth $124,218,000 after buying an additional 61,599 shares during the period. Norges Bank purchased a new position in shares of First Financial Bankshares in the second quarter worth approximately $57,680,000. Bank of America Corp DE lifted its position in shares of First Financial Bankshares by 31.8% in the 3rd quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank’s stock valued at $43,434,000 after acquiring an additional 311,628 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in First Financial Bankshares by 3.9% in the 3rd quarter. Invesco Ltd. now owns 1,144,070 shares of the bank’s stock worth $38,498,000 after purchasing an additional 43,042 shares during the period. Institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Hovde Group upgraded First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Monday, October 27th. Keefe, Bruyette & Woods reduced their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.00.

About First Financial Bankshares

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.