First Financial Bankshares (NASDAQ:FFIN) Director Acquires 820 Shares of Company Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Robert Clark Nickles, Jr. acquired 820 shares of First Financial Bankshares stock in a transaction dated Friday, October 23rd. The stock was bought at an average price of $30.12 per share, with a total value of $24,698.40. Following the completion of the purchase, the director directly owned 99,144 shares in the company, valued at $2,986,217.28. This represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

First Financial Bankshares Trading Up 0.2%

First Financial Bankshares stock traded up $0.06 during midday trading on Tuesday, hitting $30.06. The stock had a trading volume of 245,422 shares, compared to its average volume of 841,794. The firm’s fifty day moving average is $32.45 and its two-hundred day moving average is $32.53. The company has a market capitalization of $4.31 billion, a PE ratio of 14.80 and a beta of 0.82. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. The company had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $178.63 million. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on FFIN. Cantor Fitzgerald decreased their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Piper Sandler cut their target price on First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. Hovde Group initiated coverage on First Financial Bankshares in a report on Friday, September 11th. They issued a “market perform” rating and a $36.00 price target for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $34.00 price objective (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th. Finally, Raymond James Financial began coverage on shares of First Financial Bankshares in a research note on Wednesday, October 14th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.20.

Institutional Trading of First Financial Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth approximately $1,466,000. Core Capital Management & Research inc. purchased a new position in First Financial Bankshares in the 2nd quarter valued at approximately $1,381,000. Excelsior Advisor Network LLC purchased a new stake in shares of First Financial Bankshares during the first quarter worth approximately $6,903,000. Fifth Third Bancorp boosted its position in shares of First Financial Bankshares by 5,632.8% during the 1st quarter. Fifth Third Bancorp now owns 36,346 shares of the bank’s stock worth $1,070,000 after acquiring an additional 35,712 shares in the last quarter. Finally, Sei Investments Co. lifted its position in First Financial Bankshares by 60.0% in the first quarter. Sei Investments Co. now owns 112,380 shares of the bank’s stock valued at $3,309,000 after acquiring an additional 42,138 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Company Profile

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.