First Financial Bankshares (NASDAQ:FFIN) Director Michael Denny Purchases 3,000 Shares

Key Points

• Director Michael Denny bought 3,000 FFIN shares at an average price of $34.66, investing $103,980 and increasing his holdings by 85.71% to 6,500 shares.
• First Financial Bankshares reported quarterly EPS of $0.50, in line with analyst estimates, while revenue reached $172.76 million. Analysts’ average rating is “Moderate Buy,” with a $36.75 target price.
• The company declared a quarterly dividend of $0.22 per share, equivalent to $0.88 annually and a 2.6% yield; institutional investors own 69.78% of the stock.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Michael Denny purchased 3,000 shares of First Financial Bankshares stock in a transaction dated Tuesday, August 18th. The stock was bought at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the purchase, the director owned 6,500 shares in the company, valued at $225,290. This represents a 85.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Financial Bankshares Price Performance

FFIN stock traded up $0.13 during trading on Thursday, reaching $34.25. 239,522 shares of the company were exchanged, compared to its average volume of 824,852. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 18.32 and a beta of 0.81. The company has a 50-day moving average of $34.56 and a two-hundred day moving average of $32.67. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $38.12.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $172.76 million during the quarter, compared to the consensus estimate of $173.03 million. During the same period in the prior year, the business earned $0.47 earnings per share. On average, analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Dividend Announcement

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

Analyst Upgrades and Downgrades

FFIN has been the topic of several recent research reports. Benchmark started coverage on First Financial Bankshares in a report on Wednesday, June 24th. They set a "buy" rating and a $39.00 target price on the stock. 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 report on Wednesday, July 15th. Finally, Weiss Ratings raised First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP grew its holdings in shares of First Financial Bankshares by 66.3% during the third quarter. Quarry LP now owns 1,026 shares of the bank's stock valued at $35,000 after buying an additional 409 shares during the last quarter. Danske Bank A S raised its holdings in shares of First Financial Bankshares by 200.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after acquiring an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in First Financial Bankshares in the 4th quarter valued at about $44,000. CIBC Private Wealth Group LLC bought a new position in First Financial Bankshares in the 3rd quarter valued at about $50,000. Finally, State of Wyoming acquired a new position in First Financial Bankshares during the 2nd quarter valued at about $54,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source