First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report) has earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $36.75.
FFIN has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price target on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Thursday, April 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Monday, July 6th. Finally, Benchmark started coverage on First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective on the stock.
Get Our Latest Analysis on FFIN
First Financial Bankshares Price Performance
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The bank reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.18%. The business had revenue of $172.76 million during the quarter, compared to analyst estimates of $173.03 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.
First Financial Bankshares Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.5%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, June 12th. First Financial Bankshares’s dividend payout ratio (DPR) is 47.83%.
Insiders Place Their Bets
In other First Financial Bankshares news, Director Murray Hamilton Edwards purchased 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $33.18 per share, for a total transaction of $33,180.00. Following the completion of the purchase, the director directly owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On First Financial Bankshares
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of First Financial Bankshares by 3,204.2% in the 4th quarter. SG Americas Securities LLC now owns 417,192 shares of the bank’s stock valued at $12,462,000 after purchasing an additional 404,566 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of First Financial Bankshares by 978.4% during the 4th quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank’s stock worth $2,058,000 after purchasing an additional 62,510 shares in the last quarter. Jefferies Financial Group Inc. increased its position in shares of First Financial Bankshares by 283.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank’s stock worth $3,369,000 after purchasing an additional 83,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in First Financial Bankshares by 3,042,660.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock valued at $642,573,000 after purchasing an additional 21,511,608 shares during the last quarter. Finally, Phocas Financial Corp. bought a new position in First Financial Bankshares during the 4th quarter valued at about $3,515,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.
The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.
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