Insider Buying: First Financial Bankshares (NASDAQ:FFIN) Director Acquires $21,221.44 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Robert Clark Nickles, Jr. acquired 664 shares of First Financial Bankshares stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $31.96 per share, with a total value of $21,221.44. Following the completion of the transaction, the director directly owned 97,624 shares in the company, valued at $3,120,063.04. This represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $32.26 on Friday. First Financial Bankshares, Inc. has a 52-week low of $28.11 and a 52-week high of $38.74. The company has a 50-day simple moving average of $30.79 and a two-hundred day simple moving average of $31.40. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 17.53 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) 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 business had revenue of $166.89 million during the quarter, compared to the consensus estimate of $166.78 million. During the same period in the prior year, the firm posted $0.43 EPS. On average, sell-side analysts forecast that First Financial Bankshares, Inc. will post 2.04 EPS for the current fiscal year.

First Financial Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 12th. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. First Financial Bankshares’s dividend payout ratio is presently 41.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIN. Dimensional Fund Advisors LP lifted its stake in shares of First Financial Bankshares by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,760,965 shares of the bank’s stock valued at $81,309,000 after buying an additional 45,052 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of First Financial Bankshares by 83.5% during the 1st quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock valued at $56,000 after buying an additional 858 shares in the last quarter. Swiss National Bank lifted its stake in shares of First Financial Bankshares by 0.4% during the 1st quarter. Swiss National Bank now owns 240,900 shares of the bank’s stock valued at $7,095,000 after buying an additional 1,000 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of First Financial Bankshares by 0.7% during the 1st quarter. California Public Employees Retirement System now owns 236,597 shares of the bank’s stock valued at $6,968,000 after buying an additional 1,761 shares in the last quarter. Finally, Gerald Baker Financial Group LLC purchased a new stake in shares of First Financial Bankshares during the 1st quarter valued at approximately $164,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FFIN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.33.

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.