First Financial Bankshares, Inc. (NASDAQ:FFIN) Sees Significant Growth in Short Interest

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 7,960,000 shares, an increase of 5.2% from the November 30th total of 7,570,000 shares. Approximately 5.8% of the company's stock are sold short. Based on an average daily volume of 479,100 shares, the days-to-cover ratio is presently 16.6 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FFIN. Hovde Group raised 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. Stephens raised their target price 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. Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $36.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Truist Financial raised their price objective on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, September 20th.

Insider Activity

In other news, CEO F Scott Dueser sold 25,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was 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 directly owns 471,004 shares of the company's stock, valued at approximately $19,183,992.92. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Denny sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.22% of the company's stock.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in First Financial Bankshares during the second quarter worth about $83,000. Huntington National Bank lifted its position in shares of First Financial Bankshares by 32.2% during the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank's stock valued at $88,000 after acquiring an additional 577 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of First Financial Bankshares during the 2nd quarter worth approximately $97,000. Point72 Asset Management L.P. acquired a new stake in shares of First Financial Bankshares in the 2nd quarter worth approximately $118,000. Finally, Signaturefd LLC grew its holdings in shares of First Financial Bankshares by 5.0% in the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank's stock worth $166,000 after acquiring an additional 270 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Trading Down 0.9 %

Shares of First Financial Bankshares stock traded down $0.34 during trading on Wednesday, reaching $36.05. The company's stock had a trading volume of 298,398 shares, compared to its average volume of 535,166. The firm has a market cap of $5.15 billion, a PE ratio of 24.86 and a beta of 0.81. The company has a 50-day moving average price of $39.40 and a two-hundred day moving average price of $36.39. First Financial Bankshares has a fifty-two week low of $27.06 and a fifty-two week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.39 EPS for the quarter, meeting analysts' consensus estimates of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The company had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. On average, analysts predict that First Financial Bankshares will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, December 13th. First Financial Bankshares's dividend payout ratio is presently 49.66%.

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.