Brokerages Set First Financial Bankshares, Inc. (NASDAQ:FFIN) PT at $39.00

First Financial Bankshares, Inc. (NASDAQ:FFIN) has been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.00.

FFIN has been the topic of several research reports. Cantor Fitzgerald initiated coverage on First Financial Bankshares in a research note on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods upped their target price on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of First Financial Bankshares in a report on Saturday, September 27th. Finally, Hovde Group increased their price objective on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, July 21st.

First Financial Bankshares Trading Down 4.8%

Shares of FFIN stock opened at $32.11 on Friday. First Financial Bankshares has a 1 year low of $30.58 and a 1 year high of $44.66. The firm’s 50 day moving average is $35.23 and its 200-day moving average is $35.18. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 18.67 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $156.41 million. During the same quarter in the prior year, the business earned $0.37 EPS. On average, equities research analysts forecast that First Financial Bankshares will post 1.78 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. First Financial Bankshares’s dividend payout ratio is 44.19%.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its stake in First Financial Bankshares by 2.2% in the second quarter. Ballentine Partners LLC now owns 13,358 shares of the bank’s stock valued at $481,000 after buying an additional 293 shares during the period. State of Michigan Retirement System raised its position in shares of First Financial Bankshares by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 30,763 shares of the bank’s stock valued at $1,105,000 after acquiring an additional 300 shares during the period. Louisiana State Employees Retirement System raised its position in shares of First Financial Bankshares by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 36,000 shares of the bank’s stock valued at $1,293,000 after acquiring an additional 300 shares during the period. KBC Group NV raised its position in shares of First Financial Bankshares by 6.8% in the 1st quarter. KBC Group NV now owns 5,792 shares of the bank’s stock valued at $208,000 after acquiring an additional 370 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of First Financial Bankshares by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 15,056 shares of the bank’s stock valued at $540,000 after acquiring an additional 385 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.