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First Financial Bankshares (NASDAQ:FFIN) Sees Strong Trading Volume

Posted by on Jun 23rd, 2021

First Financial Bankshares logoShares of First Financial Bankshares, Inc. (NASDAQ:FFIN) saw unusually-high trading volume on Monday . Approximately 56,566 shares were traded during trading, a decline of 89% from the previous session’s volume of 493,072 shares.The stock last traded at $48.64 and had previously closed at $46.59.

FFIN has been the topic of several research analyst reports. Truist increased their price target on shares of First Financial Bankshares from $47.00 to $52.00 in a research report on Tuesday, April 27th. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday, May 27th.

The stock has a fifty day moving average price of $49.57. The firm has a market capitalization of $6.91 billion, a PE ratio of 31.11 and a beta of 0.90.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Wednesday, April 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. First Financial Bankshares had a net margin of 43.24% and a return on equity of 13.55%. The firm had revenue of $127.25 million for the quarter, compared to analysts’ expectations of $125.18 million. On average, analysts predict that First Financial Bankshares, Inc. will post 1.53 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Wednesday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.13. First Financial Bankshares’s dividend payout ratio (DPR) is presently 42.25%.

In other First Financial Bankshares news, Director Murray Hamilton Edwards purchased 29,765 shares of the firm’s stock in a transaction on Tuesday, June 1st. The shares were purchased at an average price of $50.85 per share, for a total transaction of $1,513,550.25. Following the completion of the transaction, the director now owns 160,652 shares in the company, valued at approximately $8,169,154.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO F Scott Dueser sold 20,000 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $51.58, for a total transaction of $1,031,600.00. The disclosure for this sale can be found here. Insiders have purchased 30,932 shares of company stock worth $1,571,673 in the last quarter. Company insiders own 4.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in First Financial Bankshares by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 20,236 shares of the bank’s stock worth $732,000 after purchasing an additional 1,269 shares during the period. SG Americas Securities LLC boosted its stake in shares of First Financial Bankshares by 510.7% during the 4th quarter. SG Americas Securities LLC now owns 36,148 shares of the bank’s stock valued at $1,308,000 after buying an additional 30,229 shares during the period. BlackRock Inc. boosted its stake in shares of First Financial Bankshares by 1.4% during the 4th quarter. BlackRock Inc. now owns 15,552,657 shares of the bank’s stock valued at $562,617,000 after buying an additional 222,066 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of First Financial Bankshares by 76.5% during the 4th quarter. Russell Investments Group Ltd. now owns 39,850 shares of the bank’s stock valued at $1,440,000 after purchasing an additional 17,271 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of First Financial Bankshares by 5,709.7% during the 4th quarter. Toronto Dominion Bank now owns 1,801 shares of the bank’s stock valued at $65,000 after purchasing an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 52.59% of the company’s stock.

First Financial Bankshares Company Profile (NASDAQ:FFIN)

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

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