First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $36.40 Average Target Price from Brokerages

First Financial Bankshares, Inc. (NASDAQ:FFINGet Free Report) has received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $36.40.

A number of brokerages recently commented on FFIN. Piper Sandler assumed coverage on shares of First Financial Bankshares in a report on Thursday, August 27th. They issued a “neutral” rating and a $35.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and set a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Benchmark assumed coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective for the company. Finally, Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd.

Check Out Our Latest Analysis on FFIN

Insider Buying and Selling

In other news, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.95, for a total value of $524,250.00. Following the sale, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Denny purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $34.66 per share, with a total value of $103,980.00. Following the completion of the purchase, the director directly owned 6,500 shares in the company, valued at $225,290. The trade was a 85.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in First Financial Bankshares by 8.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,824 shares of the bank’s stock valued at $132,000 after buying an additional 295 shares during the period. Smart Money Group LLC raised its stake in shares of First Financial Bankshares by 0.4% during the first quarter. Smart Money Group LLC now owns 80,245 shares of the bank’s stock valued at $2,363,000 after acquiring an additional 354 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of First Financial Bankshares by 2.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock valued at $393,000 after acquiring an additional 356 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of First Financial Bankshares by 3.0% in the fourth quarter. Ballentine Partners LLC now owns 13,482 shares of the bank’s stock valued at $403,000 after purchasing an additional 391 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of First Financial Bankshares by 32.4% in the second quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock valued at $60,000 after purchasing an additional 406 shares during the period. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Stock Down 1.3%

NASDAQ FFIN opened at $32.69 on Monday. First Financial Bankshares has a 52 week low of $28.11 and a 52 week high of $36.52. The company has a market capitalization of $4.69 billion, a P/E ratio of 17.48 and a beta of 0.81. The stock’s 50-day moving average price is $34.44 and its 200-day moving average price is $32.67.

First Financial Bankshares (NASDAQ:FFINGet Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The business had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. During the same period in the previous year, the business earned $0.47 earnings per share. Research analysts anticipate that First Financial Bankshares will post 2.05 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 14th. First Financial Bankshares’s payout ratio is 47.06%.

First Financial Bankshares Company Profile

(Get Free Report)

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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Analyst Recommendations for First Financial Bankshares (NASDAQ:FFIN)

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