Insider Buying: First Financial Bankshares (NASDAQ:FFIN) Director Buys 664 Shares of Stock

Key Points

• Director Robert Clark Nickles, Jr. purchased 664 shares on May 5 at an average price of $31.96 (total ~$21,221), increasing his ownership to 97,624 shares (a 0.68% stake increase, valued at about $3.12M).
• Dividend raised: the company increased its quarterly dividend to $0.22 (annualized $0.88) for a yield of 2.7%, up from $0.19, with record/ex-dividend date on June 12 and payment on July 1.
• First Financial beat Q1 EPS estimates ($0.50 vs. $0.47) with revenue roughly in line; the stock trades near $32.60 with a PE of 17.7, a market cap of $4.67B, and a consensus analyst rating of "Hold" (target $37.33).

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Robert Clark Nickles, Jr. purchased 664 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $31.96 per share, with a total value of $21,221.44. Following the transaction, the director directly owned 97,624 shares in the company, valued at $3,120,063.04. This trade represents a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

First Financial Bankshares Price Performance

First Financial Bankshares stock traded up $0.38 during trading hours on Wednesday, reaching $32.60. The stock had a trading volume of 914,908 shares, compared to its average volume of 798,023. The company has a fifty day simple moving average of $30.77 and a 200-day simple moving average of $31.38. First Financial Bankshares, Inc. has a 52 week low of $28.11 and a 52 week high of $38.74. The stock has a market cap of $4.67 billion, a PE ratio of 17.72 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The company had revenue of $166.89 million during the quarter, compared to analyst estimates of $166.78 million. During the same period in the prior year, the business posted $0.43 earnings per share. Research analysts predict that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.22 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.19. First Financial Bankshares's dividend payout ratio is 41.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FFIN shares. Keefe, Bruyette & Woods decreased their target price on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating for the company in a report on Thursday, April 9th. Weiss Ratings reissued a "hold (c)" rating on shares of First Financial Bankshares in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new position in shares of First Financial Bankshares in the 3rd quarter valued at approximately $25,000. Olistico Wealth LLC bought a new stake in shares of First Financial Bankshares during the fourth quarter valued at approximately $30,000. Quarry LP grew its stake in First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank's stock worth $35,000 after purchasing an additional 409 shares during the period. Danske Bank A S raised its holdings in First Financial Bankshares by 200.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank's stock worth $36,000 after purchasing an additional 800 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in First Financial Bankshares in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

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.

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