First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report) has been given an average recommendation of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.75.
FFIN has been the subject of several recent analyst reports. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Benchmark initiated coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th.
Read Our Latest Report on FFIN
First Financial Bankshares Stock Down 1.2%
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $172.76 million during the quarter, compared to analyst estimates of $173.03 million. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.During the same quarter in the previous year, the business earned $0.47 EPS. On average, analysts anticipate that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.
First Financial Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 47.06%.
Insider Buying and Selling
In other news, Director Murray Hamilton Edwards acquired 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the purchase, the director owned 44,634 shares in the company, valued at approximately $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On First Financial Bankshares
Several hedge funds and other institutional investors have recently made changes to their positions in FFIN. Quarry LP increased its position in shares of First Financial Bankshares by 66.3% during the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after purchasing an additional 409 shares in the last quarter. Danske Bank A S lifted its holdings in First Financial Bankshares by 200.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after purchasing an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in First Financial Bankshares during the 4th quarter worth $44,000. CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares during the 3rd quarter worth $50,000. Finally, State of Wyoming acquired a new stake in First Financial Bankshares during the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.
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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