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 dated Tuesday, August 18th. The stock was purchased at an average cost of $34.66 per share, with a total value of $103,980.00. Following the acquisition, the director directly owned 6,500 shares in the company, valued at $225,290. This trade represents a 85.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

First Financial Bankshares Stock Down 0.3%

FFIN opened at $34.13 on Friday. The stock has a market cap of $4.89 billion, a P/E ratio of 18.25 and a beta of 0.81. First Financial Bankshares, Inc. has a 12 month low of $28.11 and a 12 month high of $38.12. The company has a fifty day simple moving average of $34.59 and a 200 day simple moving average of $32.70.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million for the quarter, compared to analyst estimates of $173.03 million. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities research analysts expect that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Nykredit A S bought a new stake in First Financial Bankshares in the 2nd quarter valued at approximately $97,000. Briaud Financial Planning Inc acquired a new position in First Financial Bankshares during the 2nd quarter worth approximately $203,000. Susquehanna Fundamental Investments LLC grew its stake in shares of First Financial Bankshares by 8.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 98,090 shares of the bank’s stock worth $3,394,000 after acquiring an additional 7,249 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Financial Bankshares by 4.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 252,656 shares of the bank’s stock worth $8,742,000 after acquiring an additional 10,244 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of First Financial Bankshares in the second quarter valued at approximately $1,466,000. 69.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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