First Financial Bankshares (NASDAQ:FFIN) Stock: Insider Michael Denny Acquires 3,245 Shares

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael Denny bought 3,245 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were bought at an average cost of $30.76 per share, for a total transaction of $99,816.20. Following the completion of the acquisition, the director owned 9,745 shares of the company’s stock, valued at $299,756.20. This trade represents a 49.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Financial Bankshares Stock Performance

Shares of FFIN traded down $0.30 during trading hours on Friday, hitting $30.45. The stock had a trading volume of 460,300 shares, compared to its average volume of 845,216. First Financial Bankshares, Inc. has a fifty-two week low of $28.11 and a fifty-two week high of $36.52. The firm has a 50-day moving average price of $32.09 and a 200 day moving average price of $32.51. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 15.00 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $174.14 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.36 earnings per share. As a group, analysts predict that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FFIN. Raymond James Financial assumed coverage on First Financial Bankshares in a report on Wednesday, October 14th. They issued a “market perform” rating on the stock. Seaport Research Partners raised First Financial Bankshares to a “buy” rating in a research note on Wednesday, October 14th. Piper Sandler reduced their price objective on First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. 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 report on Wednesday, October 14th. Finally, Hovde Group initiated coverage on shares of First Financial Bankshares in a report on Friday, September 11th. They set a “market perform” rating and a $36.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Financial Bankshares has an average rating of “Hold” and an average price target of $35.20.

Institutional Investors Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bridge City Capital LLC increased its stake in First Financial Bankshares by 21.4% during the 3rd quarter. Bridge City Capital LLC now owns 117,133 shares of the bank’s stock worth $3,718,000 after buying an additional 20,630 shares during the period. Signaturefd LLC raised its position in shares of First Financial Bankshares by 11.2% during the 3rd quarter. Signaturefd LLC now owns 7,042 shares of the bank’s stock worth $224,000 after acquiring an additional 710 shares in the last quarter. Evergreen Capital Management LLC increased its stake in First Financial Bankshares by 29.1% in the third quarter. Evergreen Capital Management LLC now owns 20,739 shares of the bank’s stock valued at $662,000 after purchasing an additional 4,680 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of First Financial Bankshares by 109.9% in the 3rd quarter. Sterling Capital Management LLC now owns 3,485 shares of the bank’s stock valued at $111,000 after buying an additional 1,825 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in First Financial Bankshares by 1.9% in the third quarter. Inspire Investing LLC now owns 24,211 shares of the bank’s stock valued at $768,000 after acquiring an additional 441 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

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.