Benchmark upgraded shares of First Financial Bankshares (NASDAQ:FFIN – Free Report) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.
Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. Keefe, Bruyette & Woods cut their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.75.
View Our Latest Analysis on FFIN
First Financial Bankshares Stock Performance
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The firm had revenue of $166.89 million during the quarter, compared to the consensus estimate of $166.78 million. During the same period last year, the firm earned $0.43 EPS. On average, research analysts forecast that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.
First Financial Bankshares Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, June 12th. First Financial Bankshares’s payout ratio is presently 47.83%.
Insider Activity at First Financial Bankshares
In other First Financial Bankshares news, Director Murray Hamilton Edwards purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the director directly owned 44,634 shares of the company’s stock, valued at $1,480,956.12. The trade was a 2.29% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by corporate insiders.
Institutional Trading of First Financial Bankshares
Institutional investors and hedge funds have recently bought and sold shares of the stock. Olistico Wealth LLC purchased a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $30,000. Quarry LP lifted its holdings in shares of First Financial Bankshares by 66.3% during the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after buying an additional 409 shares during the period. Danske Bank A S boosted its stake in shares of First Financial Bankshares by 200.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after buying an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of First Financial Bankshares in the fourth quarter worth $44,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Financial Bankshares during the third quarter valued at $50,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.
About First Financial Bankshares
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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