Michael B. Denny Purchases 550 Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock

First Financial Bankshares, Inc. (NASDAQ:FFIN) Director Michael B. Denny acquired 550 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were bought at an average price of $33.42 per share, for a total transaction of $18,381.00. Following the acquisition, the director now owns 103,708 shares of the company’s stock, valued at approximately $3,465,921.36. This represents a 0.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Financial Bankshares Stock Up 2.6 %

Shares of NASDAQ FFIN opened at $34.65 on Friday. First Financial Bankshares, Inc. has a 52 week low of $27.62 and a 52 week high of $44.66. The business’s 50 day moving average price is $34.57 and its 200 day moving average price is $37.03. The firm has a market cap of $4.95 billion, a P/E ratio of 22.21 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The business had revenue of $149.02 million for the quarter, compared to the consensus estimate of $149.48 million. As a group, research analysts expect that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, June 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.91%.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors and hedge funds have recently modified their holdings of the stock. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares in the first quarter valued at approximately $26,000. Fifth Third Bancorp boosted its holdings in First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock worth $26,000 after buying an additional 441 shares in the last quarter. Assetmark Inc. acquired a new stake in First Financial Bankshares during the fourth quarter valued at $33,000. UMB Bank n.a. increased its holdings in First Financial Bankshares by 245.6% in the first quarter. UMB Bank n.a. now owns 1,904 shares of the bank’s stock valued at $68,000 after buying an additional 1,353 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of First Financial Bankshares by 89.9% in the first quarter. GAMMA Investing LLC now owns 1,927 shares of the bank’s stock worth $69,000 after acquiring an additional 912 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FFIN. Hovde Group dropped their target price on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st.

About First Financial Bankshares

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.