First Financial Bankshares (NASDAQ:FFIN) Sees Large Volume Increase

Posted by MarketBeat News on Mar 19th, 2023

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) saw an uptick in trading volume on Friday . 703,644 shares traded hands during trading, an increase of 27% from the previous session’s volume of 552,269 shares.The stock last traded at $31.09 and had previously closed at $32.22.

Analyst Ratings Changes

A number of research firms have recently issued reports on FFIN. Truist Financial dropped their price objective on shares of First Financial Bankshares from $42.00 to $38.00 in a report on Friday, December 9th. StockNews.com cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Friday, March 10th.

First Financial Bankshares Stock Performance

The company has a market cap of $4.32 billion, a PE ratio of 18.55 and a beta of 0.75. The business’s 50-day moving average is $35.50 and its 200 day moving average is $37.60.

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

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, March 10th. First Financial Bankshares’s payout ratio is 41.72%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were purchased at an average price of $34.05 per share, for a total transaction of $102,150.00. Following the completion of the transaction, the director now owns 905,057 shares of the company’s stock, valued at $30,817,190.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Johnny Trotter acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were purchased at an average price of $34.05 per share, for a total transaction of $102,150.00. Following the completion of the transaction, the director now owns 905,057 shares of the company’s stock, valued at $30,817,190.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Clark Nickles, Jr. acquired 9,146 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was purchased at an average price of $32.75 per share, for a total transaction of $299,531.50. Following the transaction, the director now directly owns 72,785 shares of the company’s stock, valued at approximately $2,383,708.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,146 shares of company stock worth $872,972. 4.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in shares of First Financial Bankshares by 115.4% during the second quarter. Quadrant Capital Group LLC now owns 754 shares of the bank’s stock valued at $30,000 after buying an additional 404 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of First Financial Bankshares during the fourth quarter valued at about $34,000. Wipfli Financial Advisors LLC purchased a new position in shares of First Financial Bankshares during the third quarter valued at about $38,000. CI Investments Inc. increased its position in shares of First Financial Bankshares by 47.3% during the fourth quarter. CI Investments Inc. now owns 1,118 shares of the bank’s stock valued at $38,000 after buying an additional 359 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of First Financial Bankshares by 104.7% during the fourth quarter. Parallel Advisors LLC now owns 1,132 shares of the bank’s stock valued at $39,000 after buying an additional 579 shares during the period. Hedge funds and other institutional investors own 53.86% of the company’s stock.

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.