# First Financial Bankshares, Inc. (FFIN)

> Source: Nexqual · https://nexqual.com/FFIN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, First Financial Bankshares, Inc. (FFIN), nexqual.com/FFIN" · informational, not investment advice.

**Price:** USD 30.33 (+1.88% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 29.77 · day 29.52–30.46 · 52w 28.12–36.52 · market cap $4.35B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $666M, net income $269M (40.4% margin) (SEC filings).
- Valuation: P/E 16.2x (avg 20.6x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $524K; 1 not under a Rule 10b5-1 plan ($524K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $183K; 4 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.88 on a 1–5 scale) (8 analysts), mean target USD 34.71 (range 33–38).
- Total return with dividends: 1Y -2.3% vs S&P 500 +14.9%; 5Y -33.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-15, EPS estimate USD 0.52, revenue estimate $180M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $513M | $533M | $492M | $551M | $632M | $666M |
| Net income | $228M | $234M | $199M | $224M | $254M | $269M |
| EPS (diluted) | $1.59 | $1.64 | $1.39 | $1.56 | $1.77 | — |
| Free cash flow | $336M | $308M | $268M | $293M | $286M | $325M |
| Net margin | 44.4% | 44.0% | 40.5% | 40.6% | 40.1% | 40.4% |
| Revenue growth | +4.6% | +4.0% | -7.7% | +12.0% | +14.7% | — |
| Cash + short-term investments | $529M | $331M | $537M | $763M | $1.08B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 16.2x · P/S 6.5x · P/FCF 13.4x · P/B 2.2x · FCF yield 7.48% · Earnings yield 6.19% · Dividend yield (paid, TTM) 2.51%
P/E at fiscal year-ends: Dec 2025 16.9x, Dec 2024 23.1x, Dec 2023 21.8x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | Butler Ronald David Ii | EVP/CAO | 15,000 | $524K | 8.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $183K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-18 | Denny Michael B. | Director | 3,000 | $104K | 34.66 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-24 | Nickles Robert Clark Jr | Director | 700 | $24K | 34.89 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-11 | Edwards Murray Hamilton | Director | 1,000 | $33K | 33.18 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-05 | Nickles Robert Clark Jr | Director | 664 | $21K | 31.96 | Opportunistic (traded every year 2023–2025, no repeating month) |

## Analysts
Consensus Hold (mean 2.88 on a 1–5 scale), 8 analysts; mean target USD 34.71 (low 33, high 38).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Piper Sandler | Target lowered | Neutral | $35 → $33 |
| 2026-10-16 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $35 → $34 |
| 2026-10-16 | StoneX | Target lowered | Buy | $39 → $38 |
| 2026-10-15 | Raymond James | Initiated | Market Perform |  |
| 2026-10-14 | Cantor Fitzgerald | Target lowered | Neutral | $35 → $34 |
| 2026-09-11 | Hovde Group | Initiated | Market Perform | $36 |
| 2026-08-27 | Piper Sandler | Initiated | Underweight → Neutral | $35 |
| 2026-07-15 | Cantor Fitzgerald | Target raised | Neutral | $34 → $35 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -2.3% | -33.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -2.3% | -7.9% |
| Volatility (annualized) | 23.6% | 29.0% |
| Max drawdown | -17.9% (Jul 2026→Oct 2026) | -55.9% (Nov 2021→Oct 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.95 -2.47% · FITB (Fifth Third Bancorp) USD 53.23 +0.80% · DB (Deutsche Bank AG) USD 31.48 -2.39% · TFC (Truist Financial Corporation) USD 48.42 +1.45% · NWG (NatWest Group plc) USD 16.99 -2.30% · NU (Nu Holdings Ltd.) USD 14.73 -2.13%

## More
Full page: https://nexqual.com/FFIN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.52 | $0.53 | -1.3% | $180.2M | 8 |
| Next quarter (ends 2027-03-31) | $0.51 | $0.53 | -3.7% | $178.8M | 7 |
| Current fiscal year (ends 2026-12-31) | $2.04 | $2.05 | -0.4% | $705.2M | 8 |
| Next fiscal year (ends 2027-12-31) | $2.13 | $2.16 | -1.4% | $742.1M | 7 |