Director Makes Stock Purchase in First Financial Bankshares, Inc.

First Financial Bankshares, Inc. (NASDAQ:FFIN) has made headlines following a significant stock purchase by one of its directors. Robert Clark Nickles, Jr., a director of the company, acquired 524 shares of the bank's stock in a transaction that took place on Tuesday, August 6th. The shares were purchased at an average price of $35.22 each, leading to a total expenditure of $18,455.28. As a result of this transaction, Nickles now holds a total of 94,087 shares, which are valued at approximately $3,313,744.14. This action represents a 0.56% increase in his ownership of the company's stock. The details of this acquisition have been officially reported in a legal filing with the Securities and Exchange Commission (SEC).

First Financial Bankshares Stock Performance

On Friday, the stock opened at $37.62. Throughout the past year, First Financial Bankshares has experienced significant price fluctuations, with a 12-month low of $27.62 and a high of $44.66. The stock's fifty-day moving average price stands at $38.34, while the two-hundred-day moving average price is noted at $37.46. Currently, the company boasts a market capitalization of $5.38 billion, with a price-to-earnings (P/E) ratio of 24.12 and a beta value of 0.83, indicating slightly less volatility compared to the overall market.

In its most recent quarterly earnings announcement, released on January 23rd, the bank reported earnings per share (EPS) of $0.43, which exceeded analysts' consensus estimate of $0.40 by $0.03. The bank has a net margin of 29.69% and a return on equity of 14.24%. Looking forward, analysts predict that First Financial Bankshares will report a total of 1.72 earnings per share for the current fiscal year.

Institutional Investors' Activity

Recently, several institutional investors and hedge funds have adjusted their holdings in First Financial Bankshares. Huntington National Bank increased its stake in the company by 32.2% during the third quarter, now holding 2,369 shares valued at around $88,000 after purchasing an additional 577 shares. R Squared Ltd also made a new investment in the company in the fourth quarter, approximately worth $88,000. Other firms, such as Quarry LP and Point72 DIFC Ltd, acquired new shares during the second quarter, with values around $83,000 and $97,000, respectively. Notably, Point72 Asset Management L.P. invested about $118,000 in the same period. Currently, institutional investors collectively own approximately 69.78% of the total stock in the company.

Changes in Analyst Ratings

First Financial Bankshares has received multiple updates from research analysts. Recently, the Hovde Group raised its target price from $34.50 to $40.00, assigning a 'market perform' rating. Likewise, Stephens raised their price target from $37.00 to $40.00 and placed an 'equal weight' rating on the company. Additionally, Keefe, Bruyette & Woods adjusted their target price from $40.00 to $41.00 while maintaining a 'market perform' rating.

Overview of First Financial Bankshares

First Financial Bankshares, Inc. provides a wide array of commercial banking products and services primarily in Texas. Its offerings include checking and savings accounts, time deposits, ATMs, internet and mobile banking services, and trust and wealth management services among others.

Finance, Investment, Stocks