First Financial Bankshares director purchases $24,423 in stock

Director Murray Hamilton Edwards of First Financial Bankshares Inc. (NASDAQ: FFIN) has recently made a stock purchase of 800 shares, valued at $24,423, according to Investing.com. These shares were acquired indirectly through a trust at prices ranging from $30.51 to $30.56 per share. The current stock price is at $30.41, close to its 52-week low of $28.11, and InvestingPro analysis indicates that the company is undervalued at present levels.

Following this transaction, Mr. Edwards' indirect beneficial ownership through trusts increased to 45,434 shares, in addition to his direct holdings of 204,127 shares and an additional 8,880 shares held indirectly by his spouse. It is noteworthy that 19,480 shares are held indirectly by trusts where Edwards serves as trustee and administrator, though he disclaims beneficial ownership of these specific securities.

First Financial Bankshares operates as a $4.3 billion bank with a P/E ratio of 15.12 and a dividend yield of 2.89%, having increased its dividend for 15 consecutive years. The company reported third-quarter earnings that met analyst expectations, with adjusted earnings per share at $0.52, despite a decline in revenue to $174.15 million compared to the expected $178.87 million.

Net income rose to $74.31 million, up from $52.27 million in the previous year, despite a significant credit loss provision. StoneX raised its price target for First Financial Bankshares to $38 from $39, maintaining a Buy rating, while Keefe, Bruyette & Woods lowered its price target to $34 from $35, citing strong quarterly performance and balance sheet concerns.

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