First Financial Bankshares (NASDAQ:FFIN) Director Acquires $24,423.00 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Robert Clark Nickles, Jr. bought 700 shares of First Financial Bankshares stock in a transaction dated Friday, July 24th. The shares were acquired at an average price of $34.89 per share, with a total value of $24,423.00. Following the completion of the purchase, the director owned 98,324 shares in the company, valued at approximately $3,430,524.36. The trade was a 0.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Financial Bankshares Trading Down 0.9%

Shares of NASDAQ:FFIN opened at $34.92 on Friday. The company has a fifty day simple moving average of $33.89 and a 200 day simple moving average of $32.42. The firm has a market cap of $5.00 billion, a PE ratio of 18.67 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.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The firm had revenue of $172.76 million for the quarter, compared to analysts’ expectations of $173.03 million. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds have recently added to or reduced their stakes in FFIN. GAMMA Investing LLC raised its holdings in shares of First Financial Bankshares by 38.9% during the second quarter. GAMMA Investing LLC now owns 4,909 shares of the bank’s stock worth $170,000 after purchasing an additional 1,375 shares during the period. Harbor Investment Advisory LLC acquired a new position in shares of First Financial Bankshares in the 2nd quarter valued at about $87,000. Versant Capital Management Inc boosted its holdings in shares of First Financial Bankshares by 8.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,824 shares of the bank’s stock valued at $132,000 after buying an additional 295 shares during the period. Empowered Funds LLC bought a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $208,000. Finally, S&A Financial Services Inc. bought a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $352,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FFIN. Benchmark began coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $39.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised First Financial Bankshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.75.

About First Financial Bankshares

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.