Insider Buying: First Financial Bankshares (NASDAQ:FFIN) Director Purchases $24,698.40 in Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Robert Nickles, Jr. bought 820 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were bought at an average cost of $30.12 per share, for a total transaction of $24,698.40. Following the completion of the acquisition, the director owned 99,144 shares of the company’s stock, valued at $2,986,217.28. This trade represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Financial Bankshares Trading Up 1.5%

Shares of FFIN stock opened at $30.75 on Friday. The stock has a 50 day moving average of $32.09 and a 200 day moving average of $32.51. The stock has a market cap of $4.41 billion, a P/E ratio of 14.93 and a beta of 0.82. First Financial Bankshares, Inc. has a twelve month low of $28.11 and a twelve month high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 15th. The bank reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The business had revenue of $174.14 million for the quarter, compared to analyst estimates of $178.63 million. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, research analysts predict that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FFIN. Keefe, Bruyette & Woods restated a “market perform” rating and set a $34.00 price objective (down from $35.00) on shares of First Financial Bankshares in a research report on Friday, October 16th. Cantor Fitzgerald dropped their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Raymond James Financial assumed coverage on shares of First Financial Bankshares in a research note on Wednesday, October 14th. They set a “market perform” rating for the company. Piper Sandler reduced their price target on shares of First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Finally, Weiss Ratings lowered shares of First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.20.

Institutional Trading of First Financial Bankshares

Several large investors have recently added to or reduced their stakes in FFIN. Dimensional Fund Advisors LP increased its holdings 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 worth $81,309,000 after buying an additional 45,052 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in First Financial Bankshares by 4.4% in the first quarter. Principal Financial Group Inc. now owns 297,075 shares of the bank’s stock valued at $8,749,000 after acquiring an additional 12,454 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in First Financial Bankshares by 4.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 252,656 shares of the bank’s stock valued at $8,742,000 after acquiring an additional 10,244 shares during the last quarter. Swiss National Bank grew its position in First Financial Bankshares by 0.4% in the first quarter. Swiss National Bank now owns 240,900 shares of the bank’s stock worth $7,095,000 after acquiring an additional 1,000 shares during the period. Finally, California Public Employees Retirement System grew its position in First Financial Bankshares by 0.7% in the first quarter. California Public Employees Retirement System now owns 236,597 shares of the bank’s stock worth $6,968,000 after acquiring an additional 1,761 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

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.