Director of First Financial Bankshares, Inc. Purchases Stock Valued at $18,455.28

On Tuesday, August 6th, Robert Clark Nickles, Jr., a director at First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report), purchased 524 shares of the company's stock. The shares were bought at an average price of $35.22 each, resulting in a total expenditure of $18,455.28. This transaction has increased the director's ownership to a total of 94,087 shares, which are now valued at around $3,313,744.14. This purchase marks a 0.56% increase in his stock holdings. Details about this acquisition were filed with the Securities and Exchange Commission (SEC) and can be viewed in their official records.

Current Stock Performance

As of Friday, First Financial Bankshares shares opened at $37.62. The stock has seen a 12-month low of $27.62 and a high of $44.66. The fifty-day moving average price stands at $38.34, while the 200-day moving average price is at $37.46. With a market capitalization of $5.38 billion, the company has a price-to-earnings (P/E) ratio of 24.12 and a beta of 0.83, indicating a relatively stable stock performance.

First Financial Bankshares recently announced its quarterly earnings results on January 23rd, reporting earnings per share (EPS) of $0.43, which surpassed analysts' expectations of $0.40 by $0.03. The bank recorded a net margin of 29.69% and a return on equity of 14.24%. Looking ahead, analysts predict that the company will achieve an EPS of 1.72 for the current fiscal year.

Institutional Investor Activity

Recently, notable changes in institutional investments have been noted in First Financial Bankshares. The Huntington National Bank has increased its holdings in the bank by 32.2% in the third quarter, now owning 2,369 shares valued at $88,000 after acquiring an additional 577 shares. R Squared Ltd also entered a new position in the bank during the fourth quarter, valued at around $88,000. Other investors, including Quarry LP and Point72 DIFC Ltd, have also made new investments in First Financial. As it stands, institutional investors collectively hold 69.78% of the company's shares.

Recent Analyst Recommendations

First Financial Bankshares has been the subject of several analyst reports, reflecting varied predictions for its stock performance. Hovde Group recently revised its price target for the company from $34.50 to $40.00 while maintaining a "market perform" rating. Similarly, Stephens increased their target from $37.00 to $40.00, providing an "equal weight" rating. Keefe, Bruyette & Woods also lifted their price target to $41.00, continuing to rate the stock as a "market perform."

About First Financial Bankshares

First Financial Bankshares, Inc. operates through its subsidiaries, providing a wide array of commercial banking products and services across Texas. The company offers various banking services, including checking, savings, and time deposits, along with services such as ATMs, internet banking, remote deposit capture, and wealth management services. Their commitment is to fulfill the traditional needs of their clients through a modern banking approach.

First Financial, Stock, Transaction