First Financial Bankshares (NASDAQ:FFIN) Director Acquires 820 Shares of Company Stock

Key Points

• Director Robert Nickles, Jr. bought 820 shares of First Financial Bankshares at an average price of $30.12, investing $24,698.40 and increasing his stake by 0.83% to 99,144 shares.
• FFIN shares recently traded at $30.06, near the lower end of their $28.11–$36.52 one-year range. The company met quarterly EPS expectations at $0.52, though revenue of $174.14 million fell short of analyst estimates.
• Analysts remain cautious, with an overall “Hold” rating and a consensus price target of $35.20; institutional investors own 69.78% of the company.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) Director Robert Nickles, Jr. bought 820 shares of First Financial Bankshares stock in a transaction on Friday, October 23rd. The stock was acquired at an average cost of $30.12 per share, for a total transaction of $24,698.40. Following the acquisition, the director owned 99,144 shares in the company, valued at approximately $2,986,217.28. This represents a 0.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Financial Bankshares Stock Up 0.2%

Shares of FFIN stock traded up $0.06 on Tuesday, reaching $30.06. The company had a trading volume of 245,422 shares, compared to its average volume of 841,794. The business's 50-day moving average is $32.45 and its 200 day moving average is $32.53. The stock has a market capitalization of $4.31 billion, a PE ratio of 14.80 and a beta of 0.82. First Financial Bankshares, Inc. has a one year low of $28.11 and a one year high of $36.52.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The bank reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The company had revenue of $174.14 million during the quarter, compared to analysts' expectations of $178.63 million. During the same period in the prior year, the company earned $0.36 EPS. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new position in First Financial Bankshares in the 2nd quarter worth $1,466,000. Core Capital Management & Research inc. bought a new position in First Financial Bankshares during the 2nd quarter valued at approximately $1,381,000. Excelsior Advisor Network LLC bought a new position in First Financial Bankshares in the 1st quarter worth about $6,903,000. Fifth Third Bancorp increased its position in shares of First Financial Bankshares by 5,632.8% during the first quarter. Fifth Third Bancorp now owns 36,346 shares of the bank's stock valued at $1,070,000 after acquiring an additional 35,712 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of First Financial Bankshares by 60.0% during the first quarter. Sei Investments Co. now owns 112,380 shares of the bank's stock valued at $3,309,000 after purchasing an additional 42,138 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FFIN. Hovde Group began coverage on First Financial Bankshares in a research note on Friday, September 11th. They issued a "market perform" rating and a $36.00 target price for the company. Piper Sandler decreased their price objective on shares of First Financial Bankshares from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, October 19th. Raymond James Financial started coverage on First Financial Bankshares in a research note on Wednesday, October 14th. They issued a "market perform" rating on the stock. Seaport Research Partners upgraded First Financial Bankshares to a "buy" rating in a research report on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $34.00 price target (down from $35.00) on shares of First Financial Bankshares in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.20.

About First Financial Bankshares

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.

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