F. Scott Dueser, the Chairman, President, and CEO of First Financial Bankshares Inc. (NASDAQ:FFIN), has sold 25,000 shares of the company's common stock. The transaction, which took place on December 12, 2024, was executed at a price of $40.73 per share, totaling approximately $1.02 million. The stock, which has surged nearly 47% over the past six months, currently trades near its 52-week high of $44.66. According to InvestingPro analysis, the company appears slightly overvalued at current levels. The sale was part of a family limited partnership's diversification plan, according to the filing. Following this transaction, Dueser holds 471,004 shares indirectly through a partnership. Additionally, a separate transaction involved the gifting of 11,000 shares to the Dueser Foundation, with no financial consideration involved. The $5.78 billion market cap company maintains a strong dividend track record, having raised its dividend for 14 consecutive years. InvestingPro subscribers can access additional insights, including 4 more exclusive ProTips about FFIN's financial outlook.
In other recent news, First Financial (NYSE:SSB) Bankshares announced significant leadership changes and reported solid financial results. The Texas-based commercial banking institution appointed David Bailey as the new President of both First Financial Bankshares and its subsidiary, First Financial Bank. This strategic move aligns with the company's leadership succession planning. Additionally, First Financial Bankshares posted strong third-quarter earnings per share (EPS) and pre-provision net revenue (PPNR) results, closely aligning with consensus forecasts. Stephens revised its EPS forecast for the bank and raised the price target to $40.00 from $37.00, maintaining an Equal Weight rating on the stock. The company also renewed its stock repurchase plan, allowing the buyback of up to 5,000,000 shares of its common stock through July 31, 2025. Lastly, Sally Pope Davis, a retired Goldman Sachs executive, joined First Financial Bankshares' Board of Directors, further strengthening its leadership team. These are among the recent developments revolving around First Financial Bankshares.
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