First Financial Bankshares director buys $37,077 in stock

Robert Clark Nickles Jr., a director at First Financial Bankshares Inc. (NASDAQ:FFIN), a $5.3 billion regional bank with a GOOD financial health score according to InvestingPro, has recently acquired additional shares of the company. According to a recent SEC filing, Nickles purchased a total of 1,016 shares over two transactions. The purchases, made on August 6, 2024, and January 29, 2025, were executed at prices ranging from $35.22 to $37.85 per share, totaling approximately $37,077.

Post-transaction, Nickles holds 94,579 shares indirectly through a limited liability corporation, where he and his spouse are equal beneficial owners. Additionally, he directly owns 11,636 shares of common stock.

In other recent news, First Financial Bankshares announced a significant leadership change, appointing David Bailey as the new President of both the parent company and its wholly owned subsidiary, First Financial (NYSE:SSB) Bank. The appointment, which will take effect from January 1, 2025, is part of the company’s leadership succession planning. The current President, F. Scott Dueser, will continue his roles as CEO and Chairman of the Board.

First Financial Bankshares also reported solid third-quarter earnings per share and pre-provision net revenue results, closely aligning with consensus forecasts. The bank saw a modest increase in its net interest margin and significant end-of-period deposit growth. These outcomes prompted Stephens to revise its earnings forecast for the bank and maintain an Equal Weight rating on the stock.

The company has also renewed its stock repurchase plan, allowing the buyback of up to 5,000,000 shares of its common stock through July 31, 2025. This decision followed strong Q2 results, including a 16% increase in loan growth. In another recent development, Sally Pope Davis, a retired Goldman Sachs executive, joined First Financial Bankshares’ Board of Directors, further strengthening its leadership team.

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