FIRST FINANCIAL BANKSHARES ANNOUNCES RENEWAL OF STOCK REPURCHASE PLAN
First Financial Bankshares (NASDAQ: FFIN) has renewed its stock repurchase plan, authorizing the repurchase of up to 5,000,000 shares of common stock through July 31, 2025. This represents approximately 3.5% of the company's outstanding shares as of July 23, 2024. The plan allows management to repurchase shares when considered beneficial to the company and its stockholders, with no minimum repurchase requirement. Repurchases can be made through open market, block trades, or private transactions. F. Scott Dueser, Chairman, CEO, and President, emphasized FFIN's strong capital position and the plan's potential to benefit shareholders when share prices are attractive.
First Financial Bankshares (NASDAQ: FFIN) ha rinnovato il suo piano di riacquisto di azioni, autorizzando il riacquisto di fino a 5.000.000 di azioni ordinarie fino al 31 luglio 2025. Questo rappresenta circa 3,5% delle azioni in circolazione della società al 23 luglio 2024. Il piano consente alla direzione di riacquistare azioni quando lo si ritiene vantaggioso per l'azienda e i suoi azionisti, senza alcun requisito minimo di riacquisto. I riacquisti possono essere effettuati attraverso il mercato aperto, transazioni di blocco o trattative private. F. Scott Dueser, Presidente, CEO e Direttore, ha sottolineato la forte posizione di capitale di FFIN e il potenziale del piano di beneficiare gli azionisti quando i prezzi delle azioni sono favorevoli.
First Financial Bankshares (NASDAQ: FFIN) ha renovado su plan de recompra de acciones, autorizando la recompra de hasta 5,000,000 de acciones ordinarias hasta el 31 de julio de 2025. Esto representa aproximadamente 3.5% de las acciones en circulación de la empresa a partir del 23 de julio de 2024. El plan permite a la dirección recomprar acciones cuando se considere beneficioso para la empresa y sus accionistas, sin un requisito mínimo de recompra. Las recompras pueden hacerse a través del mercado abierto, transacciones de bloque o negociaciones privadas. F. Scott Dueser, Presidente, CEO y Director, enfatizó la fuerte posición de capital de FFIN y el potencial del plan para beneficiar a los accionistas cuando los precios de las acciones son atractivos.
퍼스트 파이낸셜 뱅크셰어스(틱커: FFIN)가 주식 재매입 계획을 갱신하여 2025년 7월 31일까지 최대 5,000,000주의 보통주를 재매입할 수 있도록 승인했습니다. 이는 2024년 7월 23일 기준으로 회사의 총 발행 주식의 약 3.5%에 해당합니다. 이 계획은 경영진이 회사와 주주에게 유익하다고 판단되는 경우 주식을 재매입할 수 있도록 하며, 최소 주식 구매 요건은 없습니다. 재매입은 공개 시장, 블록 거래 또는 개인 거래를 통해 이루어질 수 있습니다. F. Scott Dueser 회장, CEO 및 사장은 FFIN의 강력한 자본 위치와 주가가 매력적일 때 주주에게 혜택을 줄 수 있는 계획의 잠재력을 강조했습니다.
First Financial Bankshares (NASDAQ: FFIN) a renouvelé son plan de rachat d'actions, autorisant le rachat de jusqu'à 5 000 000 d'actions ordinaires jusqu'au 31 juillet 2025. Cela représente environ 3,5% des actions en circulation de l'entreprise au 23 juillet 2024. Le plan permet à la direction de racheter des actions lorsqu'elle considère cela bénéfique pour l'entreprise et ses actionnaires, sans exigence de rachat minimum. Les rachats peuvent être effectués par le biais du marché ouvert, de transactions groupées ou de négociations privées. F. Scott Dueser, Président, PDG et Directeur, a souligné la solide position en capital de FFIN et le potentiel du plan à bénéficier aux actionnaires lorsque les prix des actions sont attractifs.
First Financial Bankshares (NASDAQ: FFIN) hat seinen Aktienrückkaufplan erneuert und die Rückführung von bis zu 5.000.000 Aktien des Stammkapitals bis zum 31. Juli 2025 autorisiert. Dies entspricht ungefähr 3,5% der ausstehenden Aktien des Unternehmens zum 23. Juli 2024. Der Plan ermöglicht es der Geschäftsführung, Aktien zu erwerben, wenn dies für das Unternehmen und seine Aktionäre als vorteilhaft erachtet wird, ohne dass eine Mindestanforderung für den Rückkauf besteht. Rückkäufe können über den offenen Markt, Blockgeschäfte oder private Transaktionen erfolgen. F. Scott Dueser, Vorsitzender, CEO und Präsident, betonte die starke Kapitalposition von FFIN und das potenzielle Nutzen des Plans für die Aktionäre, wenn die Aktienpreise attraktiv sind.
- Authorization to repurchase up to 5,000,000 shares (3.5% of outstanding shares)
- Flexibility in repurchase timing and method to maximize shareholder benefit
- Strong capital position in the banking industry
- Potential to enhance shareholder value through strategic share repurchases
- None.
The renewal of First Financial Bankshares' stock repurchase plan is a strategic move that warrants attention. With authorization to repurchase up to 5,000,000 shares, representing approximately
Key points to consider:
- The plan's duration until July 31, 2025, offers a substantial window for execution.
- The absence of a minimum repurchase requirement allows management to be opportunistic.
- This move signals confidence in the company's financial health and future prospects.
However, investors should note that the actual impact depends on execution. If fully implemented, this could potentially boost earnings per share and return value to shareholders. Yet, the company's statement about repurchasing when 'beneficial' and at an 'attractive' price leaves room for interpretation.
While stock buybacks can be positive, they also reduce cash reserves that could be used for growth initiatives or dividends. Investors should monitor the company's capital allocation strategy and how this fits into their overall financial plan.
Given First Financial's strong capital position, as highlighted by CEO Dueser, this move appears to be from a position of strength rather than desperation. However, in the current banking environment, maintaining robust capital ratios is crucial, so any repurchases will likely be carefully balanced against regulatory requirements and growth needs.
The renewal of First Financial Bankshares' stock repurchase plan is a nuanced development that requires careful interpretation within the broader market context. Here are some key considerations:
- Timing: This announcement comes amidst a period of uncertainty in the banking sector, following recent high-profile bank failures.
- Market Perception: Such a move can be seen as a vote of confidence by management in the company's stock value and future prospects.
- Flexibility: The plan's structure, allowing for up to 5,000,000 shares without a minimum requirement, provides significant operational latitude.
From a market perspective, this action could potentially provide support for the stock price, especially during periods of market volatility. However, its effectiveness will depend on various factors, including the company's execution strategy and broader market conditions.
Investors should also consider how this compares to peers in the regional banking sector. Is First Financial Bankshares leading a trend, or is this an isolated move? The answer could provide insights into the overall health and confidence levels within the industry.
Lastly, while stock repurchases can be viewed positively, they may also raise questions about growth opportunities. Investors might wonder if the company sees expansion prospects, hence choosing to return capital to shareholders instead of reinvesting in the business. Balancing this perception against the stated strong capital position will be important for market sentiment.
The stock repurchase plan authorizes management to repurchase shares at such time and price as repurchases are considered beneficial to the Company and its stockholders. Any repurchase of shares will be made through the open market, block trades, or in privately negotiated transactions in accordance with applicable laws and regulations. Under the repurchase plan, there is no minimum number of shares that the Company is required to repurchase.
"First Financial continues to have one of the strongest capital positions in the banking industry and we believe it is in the best interest of our shareholders to have a stock repurchase plan in place to be able to execute when the price of our shares is attractive," said F. Scott Dueser, Chairman, CEO and President of First Financial. "The renewal of this share repurchase plan demonstrates our board's confidence in the outlook of First Financial."
About First Financial Bankshares, Inc.
Headquartered in
The Company is listed on The NASDAQ Global Select Market under the trading symbol FFIN. For more information about First Financial, please visit our website at https://www.ffin.com.
Certain statements contained herein may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the Company's management, as well as assumptions made beyond information currently available to the Company's management, and may be, but not necessarily are, identified by such words as "expect," "plan," "anticipate," "target," "forecast," "project," and "goal." Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include competition from other financial institutions and financial holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; economic impact of oil and gas prices and the pandemic, changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses, and similar variables. Other key risks are described in the Company's reports filed with the Securities and Exchange Commission, which may be obtained under "Investor Relations-Documents and Filings" on the Company's Website or by writing or calling the Company at 325.627.7155. Except as otherwise stated in this news announcement, the Company does not undertake any obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise.
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SOURCE First Financial Bankshares, Inc.
FAQ
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