Insider Buying: First Financial Bankshares (NASDAQ:FFIN) Director Acquires 500 Shares of Stock

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

First Financial Bankshares Stock Up 1.6%

FFIN stock traded up $0.55 during mid-day trading on Friday, reaching $34.77. 386,412 shares of the company traded hands, compared to its average volume of 858,245. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 19.64 and a beta of 0.86. First Financial Bankshares, Inc. has a fifty-two week low of $29.43 and a fifty-two week high of $38.74. The firm’s 50 day moving average price is $31.65 and its 200 day moving average price is $33.12.

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

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. 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 payout ratio is 42.94%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Hovde Group upgraded shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, October 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in 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 worth $642,573,000 after acquiring an additional 21,511,608 shares during the last quarter. Norges Bank bought a new position in shares of First Financial Bankshares during the second quarter valued at approximately $57,680,000. Invesco Ltd. lifted its stake in First Financial Bankshares by 170.9% in the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after acquiring an additional 694,534 shares during the period. SG Americas Securities LLC boosted its holdings in First Financial Bankshares by 3,204.2% in the fourth quarter. SG Americas Securities LLC now owns 417,192 shares of the bank’s stock valued at $12,462,000 after acquiring an additional 404,566 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in First Financial Bankshares by 314.0% during the 2nd quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock valued at $17,640,000 after purchasing an additional 371,847 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.

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.