Insider Buying: First Financial Bankshares, Inc. (FFIN) Director Acquires 380 Shares of Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Murray Hamilton Edwards purchased 380 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was acquired at an average cost of $38.50 per share, for a total transaction of $14,630.00. Following the completion of the purchase, the director now owns 91,288 shares of the company’s stock, valued at approximately $3,514,588. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) traded down 0.12% on Friday, reaching $41.75. 566,036 shares of the company were exchanged. The company has a 50-day moving average price of $40.03 and a 200 day moving average price of $41.90. First Financial Bankshares, Inc. has a 1-year low of $29.69 and a 1-year high of $46.70. The stock has a market capitalization of $2.74 billion, a PE ratio of 26.09 and a beta of 1.39.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 20th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. First Financial Bankshares had a net margin of 33.09% and a return on equity of 12.32%. The business had revenue of $78.30 million during the quarter, compared to the consensus estimate of $83.55 million. During the same quarter last year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that First Financial Bankshares, Inc. will post $1.69 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for First Financial Bankshares (NASDAQ:FFIN)

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 16th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio (DPR) is presently 47.50%.

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A number of institutional investors have recently made changes to their positions in FFIN. Tudor Investment Corp ET AL boosted its position in shares of First Financial Bankshares by 75.0% in the first quarter. Tudor Investment Corp ET AL now owns 9,711 shares of the bank’s stock valued at $389,000 after buying an additional 4,163 shares during the period. State Street Corp boosted its position in shares of First Financial Bankshares by 23.8% in the first quarter. State Street Corp now owns 2,081,757 shares of the bank’s stock valued at $83,472,000 after buying an additional 400,296 shares during the period. Bank of America Corp DE boosted its position in shares of First Financial Bankshares by 73.5% in the first quarter. Bank of America Corp DE now owns 113,502 shares of the bank’s stock valued at $4,551,000 after buying an additional 48,069 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of First Financial Bankshares by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 313,905 shares of the bank’s stock valued at $12,588,000 after buying an additional 13,396 shares during the period. Finally, BlackRock Inc. boosted its position in shares of First Financial Bankshares by 84,122.7% in the first quarter. BlackRock Inc. now owns 7,960,731 shares of the bank’s stock valued at $319,224,000 after buying an additional 7,951,279 shares during the period. Hedge funds and other institutional investors own 50.09% of the company’s stock.

Several research firms recently issued reports on FFIN. Zacks Investment Research upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Hovde Group upgraded shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and set a $43.00 price objective for the company in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods upgraded shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $37.00 to $38.00 in a research report on Friday, April 21st. Stephens restated a “hold” rating on shares of First Financial Bankshares in a research report on Monday, April 24th. Finally, BidaskClub upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.33.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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