Insider Buying: First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Purchases 550 Shares of Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Robert Clark Nickles, Jr. acquired 550 shares of First Financial Bankshares stock in a transaction on Wednesday, July 23rd. The shares were bought at an average cost of $36.77 per share, for a total transaction of $20,223.50. Following the completion of the transaction, the director owned 95,678 shares in the company, valued at approximately $3,518,080.06. This trade represents a 0.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

First Financial Bankshares Price Performance

FFIN stock traded up $0.03 during midday trading on Thursday, hitting $36.86. The stock had a trading volume of 448,482 shares, compared to its average volume of 531,646. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 21.43 and a beta of 0.87. The business has a 50-day moving average of $36.14 and a two-hundred day moving average of $35.78. First Financial Bankshares, Inc. has a 52-week low of $30.58 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. The firm had revenue of $156.60 million for the quarter, compared to analysts' expectations of $156.41 million. During the same period in the prior year, the firm posted $0.37 earnings per share. Research analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a dividend of $0.19 per share. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, June 16th. First Financial Bankshares's dividend payout ratio is presently 44.19%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after acquiring an additional 441 shares during the period. Investment Research & Advisory Group Inc. bought a new position in First Financial Bankshares in the first quarter valued at about $26,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in First Financial Bankshares in the first quarter valued at about $36,000. Smartleaf Asset Management LLC raised its stake in shares of First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock worth $45,000 after buying an additional 404 shares during the period. Finally, Quarry LP raised its stake in shares of First Financial Bankshares by 336.9% in the first quarter. Quarry LP now owns 1,573 shares of the bank's stock worth $57,000 after buying an additional 1,213 shares during the period. Institutional investors own 69.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FFIN shares. Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Hovde Group boosted their price objective on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.