Michael B. Denny Acquires 600 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny purchased 600 shares of First Financial Bankshares stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $31.21 per share, for a total transaction of $18,726.00. Following the purchase, the director now directly owns 104,585 shares in the company, valued at $3,264,097.85. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $31.08 on Wednesday. The company’s 50-day simple moving average is $30.88 and its two-hundred day simple moving average is $29.43. First Financial Bankshares, Inc. has a one year low of $22.84 and a one year high of $33.15. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 22.20 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. First Financial Bankshares’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities analysts expect that First Financial Bankshares, Inc. will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Financial Bankshares

A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of First Financial Bankshares by 5.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 48,387 shares of the bank’s stock worth $1,215,000 after buying an additional 2,500 shares during the last quarter. Raymond James & Associates grew its holdings in First Financial Bankshares by 2.4% in the third quarter. Raymond James & Associates now owns 52,364 shares of the bank’s stock worth $1,315,000 after purchasing an additional 1,234 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First Financial Bankshares by 18.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,713 shares of the bank’s stock worth $696,000 after purchasing an additional 4,251 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of First Financial Bankshares by 12.0% during the 3rd quarter. Inspire Investing LLC now owns 13,876 shares of the bank’s stock valued at $349,000 after purchasing an additional 1,489 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of First Financial Bankshares in the 3rd quarter worth $40,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FFIN shares. Keefe, Bruyette & Woods upped their target price on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Stephens dropped their price objective on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Finally, Truist Financial decreased their target price on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.33.

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.