First Financial Bankshares, Inc. Director Makes Significant Stock Purchase

Director Johnny Trotter of First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) purchased 6,000 shares of the company’s stock on Wednesday, March 12. The shares were bought at an average price of $35.12 per share, resulting in a total transaction value of $210,720.00. After this acquisition, Trotter's ownership of the stock increased slightly by 0.64%, bringing his total holdings to 949,371 shares, which are valued at around $33,341,909.52. This transaction has been reported in a filing with the Securities and Exchange Commission, which is accessible for public review.

Recent Stock Performance

On the following Thursday, FFIN's stock price rose by 0.7%, reaching $35.31. The trading volume for the day was 197,068 shares, which is below the average volume of 489,112 shares. The company has recorded a 50-day moving average of $36.91 and a 200-day moving average of $37.74. Over the past year, First Financial Bankshares has experienced a low of $27.62 and a high of $44.66. With a market capitalization of $5.05 billion and a price-to-earnings ratio of 22.64, the stock has a beta of 0.78, indicating less volatility compared to the market.

First Financial Bankshares released its latest quarterly earnings results on Thursday, January 23. The earnings per share (EPS) for this quarter was reported at $0.43, surpassing analyst expectations of $0.40 by $0.03. The bank has shown a net margin of 29.69% and a return on equity of 14.24%. Analysts predict that the EPS for the current fiscal year will be 1.78.

Dividend Declaration

The company has also announced a quarterly dividend of $0.18, which will be distributed on Tuesday, April 1. Shareholders who are on record by Friday, March 14, will receive this dividend. Annually, this dividend equates to $0.72, providing a dividend yield of 2.04%. The ex-dividend date is set for the same date, March 14. Currently, First Financial Bankshares exhibits a dividend payout ratio of 46.15%.

Changes in Analyst Ratings

In a separate report from Keefe, Bruyette & Woods on January 27, the target price for First Financial Bankshares was increased from $40.00 to $41.00, with a recommendation to ‘market perform’ for the shares.

Institutional Investor Activities

Several institutional investors and hedge funds have recently adjusted their positions in FFIN. For instance, Jefferies Financial Group Inc. acquired a new position valued at $835,000 in the fourth quarter, while Mackenzie Financial Corp invested around $229,000 during the same period. Furthermore, Michels Family Financial LLC added shares worth approximately $263,000 to its portfolio. GTS Securities LLC made a similar move, buying an investment valued at about $278,000. Additionally, 49 Wealth Management LLC raised its shareholding in First Financial Bankshares by 4.7%, acquiring an additional 350 shares for a total of 7,825 shares worth $282,000. Collectively, institutional owners and hedge funds currently hold 69.78% of the company’s outstanding shares.

About First Financial Bankshares

First Financial Bankshares, Inc., through its subsidiaries, offers commercial banking products and services primarily in Texas. The bank provides a variety of services, including checking and savings accounts, automated teller machines, online banking, mobile banking, and trust and wealth management services.

Investment, Stock, Earnings