Insider Buying: First Financial Bankshares (NASDAQ:FFIN) Director Acquires $24,424.00 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Murray Edwards purchased 800 shares of the company’s stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $30.53 per share, with a total value of $24,424.00. Following the transaction, the director directly owned 45,434 shares in the company, valued at $1,387,100.02. This trade represents a 1.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

First Financial Bankshares Trading Down 2.4%

Shares of NASDAQ:FFIN opened at $30.68 on Friday. The company has a 50-day moving average price of $31.80 and a 200-day moving average price of $32.48. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 15.48 and a beta of 0.80. First Financial Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $178.63 million. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. During the same quarter last year, the business posted $0.36 EPS. As a group, research analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Financial Bankshares

A number of hedge funds have recently added to or reduced their stakes in FFIN. Hsbc Holdings PLC acquired a new position in shares of First Financial Bankshares in the 2nd quarter valued at $1,466,000. Core Capital Management & Research inc. acquired a new stake in First Financial Bankshares during the 2nd quarter worth about $1,381,000. Excelsior Advisor Network LLC purchased a new stake in First Financial Bankshares during the 1st quarter valued at about $6,903,000. Fifth Third Bancorp increased its holdings in shares of First Financial Bankshares by 5,632.8% in the first quarter. Fifth Third Bancorp now owns 36,346 shares of the bank’s stock valued at $1,070,000 after purchasing an additional 35,712 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of 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 purchasing an additional 42,138 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FFIN has been the topic of several research analyst reports. Raymond James Financial assumed coverage on shares of First Financial Bankshares in a research report on Wednesday, October 14th. They set a “market perform” rating on the stock. Piper Sandler dropped their target price on shares of First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $34.00 target price (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th. Hovde Group began coverage on First Financial Bankshares in a research report on Friday, September 11th. They issued a “market perform” rating and a $36.00 price target for the company. Finally, Seaport Research Partners upgraded shares of First Financial Bankshares to a “buy” rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.20.

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.