Insider Buying: First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Purchases $68,860.00 in Stock

Posted by Defense World Staff on Mar 13th, 2023

First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) Director Johnny Trotter bought 2,000 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was bought at an average cost of $34.43 per share, for a total transaction of $68,860.00. Following the transaction, the director now owns 908,557 shares of the company’s stock, valued at approximately $31,281,617.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Johnny Trotter also recently made the following trade(s):

On Wednesday, January 25th, Johnny Trotter bought 3,000 shares of First Financial Bankshares stock. The stock was bought at an average cost of $34.05 per share, for a total transaction of $102,150.00.

First Financial Bankshares Stock Down 1.4 %

Shares of NASDAQ FFIN opened at $32.88 on Monday. The business’s 50 day moving average price is $35.76 and its two-hundred day moving average price is $37.98. The company has a market cap of $4.69 billion, a PE ratio of 20.17 and a beta of 0.75. First Financial Bankshares, Inc. has a twelve month low of $32.15 and a twelve month high of $47.32.

First Financial Bankshares (NASDAQ:FFIN – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The bank reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The firm had revenue of $132.56 million for the quarter, compared to the consensus estimate of $136.32 million. First Financial Bankshares had a return on equity of 17.98% and a net margin of 41.53%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts anticipate that First Financial Bankshares, Inc. will post 1.65 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, March 10th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 41.72%.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $43,669,000. Millennium Management LLC grew its position in shares of First Financial Bankshares by 215.9% in the second quarter. Millennium Management LLC now owns 882,563 shares of the bank’s stock valued at $34,658,000 after purchasing an additional 603,140 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of First Financial Bankshares by 246.3% in the second quarter. Renaissance Technologies LLC now owns 529,108 shares of the bank’s stock valued at $20,778,000 after purchasing an additional 376,300 shares during the last quarter. State Street Corp grew its position in shares of First Financial Bankshares by 5.7% in the first quarter. State Street Corp now owns 5,667,499 shares of the bank’s stock valued at $250,897,000 after purchasing an additional 304,883 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of First Financial Bankshares by 1.6% in the third quarter. Vanguard Group Inc. now owns 14,058,166 shares of the bank’s stock valued at $588,054,000 after purchasing an additional 219,022 shares during the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.

Wall Street Analysts Forecast Growth

FFIN has been the topic of a number of recent research reports. StockNews.com downgraded First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Friday. Truist Financial lowered their target price on First Financial Bankshares from $42.00 to $38.00 in a research report on Friday, December 9th.

About First Financial Bankshares

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First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.