First Financial Bankshares, Inc (NASDAQ:FFIN) has been the object of insider buying and selling activity recently. Director Ronald N. Giddiens disclosed the sale of 1,000 shares of (FFIN). The shares were sold on June 9th for an average price of $41.00. Giddiens now owns $566,456 of the stock according to the SEC filing. Johnny Trotter, Director disclosed the purchase of 1,000 shares. The shares were purchased at an average price of $38.55. The Director now owns $14,993,560 of the stock per the Form 4 SEC filing.
David L. Copeland, Director sold $25,992 worth of shares at an average price of $38.00 on Wed the 31st. That brings the Director’s holdings to $8,905,756 per an SEC filing yesterday.
First Financial Bankshares, Inc., launched on March 30, 1956, is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Business’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc., Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc., Abilene, Texas, and First Financial Insurance Agency, Inc., Abilene, Texas. The Business’s banking centers are located in Central, North Central, Southeast and West Texas. As of December 31, 2016, the Company had 69 financial centers across Texas, with 11 locations in Abilene, three locations in San Angelo and Weatherford, two locations in Cleburne, Conroe, Stephenville, and Granbury, and one location each in Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Clyde, Cut and Shoot, Decatur, Eastland, Fort Worth, Glen Rose, Grapevine, Hereford, Huntsville, Keller, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Port Arthur, Ranger, Rising Star, Roby, Southlake, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Willis and Willow Park, all in Texas..
Here are a few additional firms who have increased or decreased their stake in (FFIN). As of quarter end Morgan Stanley had bought 86 shares growing its position 14.1%. The value of the company’s investment in First Financial Bankshares, Inc decreased from $28,000 to $28,000 a change of $0 for the reporting period. As of the end of the quarter Goldman Sachs Group Inc had acquired a total of 1,187 shares growing its holdings by 0.1%. The value of the investment in First Financial Bankshares, Inc went from $65,808,000 to $58,431,000 a change of 11.2% quarter to quarter.
State Street Corp bolstered its position by buying 400,296 shares an increase of 23.8%. State Street Corp claims 2,081,757 shares valued at $83,472,000. The total value of its holdings increased 9.8%. As of the end of the quarter Schwab Charles Investment Management Inc had bought 13,396 shares growing its stake by 4.5%. The value of the investment in (FFIN) decreased from $13,584,000 to $12,588,000 decreasing 7.3% quarter over quarter.
On November 29 the company was downgraded from “Market Perform” to “Underperform” in a report from Keefe Bruyette & Woods. On November 18 the stock rating was downgraded to “Underperform” from “Market Perform” in an announcement from Hovde Group.
On February 29 the company was upgraded from “Underperform” to “Market Perform” in a report issued by Hovde Group. On January 29 the company was set at “Sell” according to a Sandler O’Neill report which was a cut from the previous “Hold” rating.
October 23 investment analysts at Macquarie made no change to the stock rating of “Neutral” but raised the price expectation from $30.00 to $31.00. On July 17 Keefe Bruyette & Woods kept the company rating at “Market Perform” and moved up the price target to $31.00 from $28.00.
The company is now down by -1.29 percent from yesterday’s close. First Financial Bankshares, Inc also announced a dividend that will be paid on Monday the 3rd of July 2017. The dividend payment will be $0.190 per share for the quarter which comes to $0.76 on an annualized basis. This dividend represents a yeild of $1.78 which is the dividend as a percentage of the current share price. The ex-dividend date will be Monday the 13th of March 2017.
Shares of the company are trading at $42.05 which is marginally over $39.85, the 50 day moving average and a tad higher than the 200 day moving average of $42.00. The 50 day moving average was up $2.15 whereas the 200 day average was up by +0.01%.
The P/E ratio is currently 26.25 and the market cap of the company is 2.76B. As of the latest earnings report the EPS was $1.60 and is expected to be $1.69 for the current year with 65,628,000 shares presently outstanding. Next quarter’s EPS is expected be $0.44 and the next full year EPS is projected to be $1.84.
Short traders are more bullish on the company lately if you watch the change in short interest. The firm saw a fall in short interest from May 15, 2017 to May 31, 2017 of -13.02%. Short interest fell 1,079,732 over that timeframe. Days to cover decreased -4.2 to 45.9 and the short interest percentage is 0.11% as of May 31.