First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny Buys 5,000 Shares

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Michael B. Denny acquired 5,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the acquisition, the director now owns 108,708 shares of the company's stock, valued at approximately $3,915,662.16. The trade was a 4.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN traded down $1.10 during midday trading on Friday, reaching $35.56. The stock had a trading volume of 484,913 shares, compared to its average volume of 548,390. The company's 50 day moving average price is $34.39 and its 200 day moving average price is $36.27. First Financial Bankshares, Inc. has a twelve month low of $27.62 and a twelve month high of $44.66. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 22.79 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The business had revenue of $149.02 million during the quarter, compared to the consensus estimate of $149.48 million. Equities analysts forecast that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.19 dividend. This is a positive change from First Financial Bankshares's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.76 annualized dividend and a dividend yield of 2.14%. First Financial Bankshares's dividend payout ratio is presently 46.91%.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Investment Research & Advisory Group Inc. bought a new stake in shares of First Financial Bankshares in the first quarter valued at $26,000. Fifth Third Bancorp raised its holdings in shares of First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after acquiring an additional 441 shares in the last quarter. Assetmark Inc. bought a new position in First Financial Bankshares in the fourth quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in First Financial Bankshares during the first quarter valued at about $36,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of First Financial Bankshares by 47.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Analyst Upgrades and Downgrades

FFIN has been the subject of a number of recent analyst reports. Hovde Group cut their price target on shares of First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price objective 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 Monday, April 21st.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.

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