First Financial Bankshares (NASDAQ:FFIN) Price Target Lowered to $38.00 at Hovde Group

First Financial Bankshares (NASDAQ:FFIN) had its price target trimmed by Hovde Group from $40.00 to $38.00 in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has a market perform rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $32.25 on Monday. First Financial Bankshares has a 1 year low of $27.62 and a 1 year high of $44.66. The firm has a 50 day moving average price of $35.20 and a 200 day moving average price of $37.23. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 20.67 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $149.02 million during the quarter, compared to analysts’ expectations of $149.48 million. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. Sell-side analysts predict that First Financial Bankshares will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at First Financial Bankshares

In other news, Director Johnny Trotter purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $35.12 per share, with a total value of $210,720.00. Following the acquisition, the director now owns 949,371 shares in the company, valued at approximately $33,341,909.52. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.22% of the company’s stock.

Institutional Trading of First Financial Bankshares

Large investors have recently modified their holdings of the business. Barclays PLC grew its stake in First Financial Bankshares by 83.0% during the 3rd quarter. Barclays PLC now owns 289,468 shares of the bank’s stock valued at $10,714,000 after purchasing an additional 131,259 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in First Financial Bankshares in the fourth quarter valued at $402,000. Atria Wealth Solutions Inc. boosted its stake in First Financial Bankshares by 26.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 43,335 shares of the bank’s stock valued at $1,567,000 after acquiring an additional 9,056 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in First Financial Bankshares by 39.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 461,726 shares of the bank’s stock worth $17,088,000 after acquiring an additional 131,063 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of First Financial Bankshares in the 4th quarter worth about $3,504,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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.