First Financial Bankshares, Inc. (NASDAQ:FFIN) Short Interest Update

First Financial Bankshares, Inc. (NASDAQ:FFIN) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 7,460,000 shares, a decline of 6.3% from the December 15th total of 7,960,000 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average trading volume of 492,300 shares, the days-to-cover ratio is currently 15.2 days.

First Financial Bankshares Stock Up 0.6 %

NASDAQ:FFIN traded up $0.23 during trading hours on Friday, reaching $37.02. 364,853 shares of the stock were exchanged, compared to its average volume of 483,273. First Financial Bankshares has a twelve month low of $27.62 and a twelve month high of $44.66. The business has a 50-day moving average of $38.99 and a two-hundred day moving average of $37.01. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 25.53 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $142.10 million during the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, research analysts forecast that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, December 13th. First Financial Bankshares’s payout ratio is 49.66%.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the transaction, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Scott Dueser sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares in the company, valued at $19,183,992.92. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Financial Bankshares

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of First Financial Bankshares in the second quarter worth $83,000. Huntington National Bank boosted its holdings in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares during the period. Point72 DIFC Ltd acquired a new position in First Financial Bankshares during the 2nd quarter worth $97,000. Point72 Asset Management L.P. purchased a new stake in First Financial Bankshares during the 2nd quarter worth about $118,000. Finally, US Bancorp DE raised its position in First Financial Bankshares by 50.9% in the 3rd quarter. US Bancorp DE now owns 5,026 shares of the bank’s stock valued at $186,000 after purchasing an additional 1,696 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FFIN has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group upped their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Stephens raised their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th.

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.