First Financial Bankshares (NASDAQ:FFIN) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of First Financial Bankshares (NASDAQ:FFIN) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $39.00 price objective on the bank’s stock.

Other research analysts also recently issued reports about the company. Hovde Group upped their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, First Financial Bankshares has a consensus rating of “Hold” and a consensus price target of $39.20.

First Financial Bankshares Stock Up 0.1%

NASDAQ:FFIN opened at $36.10 on Tuesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 20.99 and a beta of 0.89. The company’s 50 day moving average price is $36.24 and its 200-day moving average price is $35.49. First Financial Bankshares has a 52 week low of $30.58 and a 52 week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. First Financial Bankshares had a net margin of 31.01% and a return on equity of 14.69%. The company had revenue of $156.60 million during the quarter, compared to analyst estimates of $156.41 million. During the same period in the previous year, the business earned $0.37 EPS. As a group, sell-side analysts anticipate that First Financial Bankshares will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, September 15th. First Financial Bankshares’s dividend payout ratio is 44.19%.

Institutional Trading of First Financial Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FFIN. Norges Bank bought a new position in shares of First Financial Bankshares in the second quarter worth about $57,680,000. Nuveen LLC purchased a new stake in First Financial Bankshares in the 1st quarter worth approximately $34,662,000. Invesco Ltd. raised its stake in First Financial Bankshares by 170.9% during the 2nd quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after acquiring an additional 694,534 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in First Financial Bankshares by 36.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after acquiring an additional 652,575 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in First Financial Bankshares by 125.7% during the first quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock valued at $38,993,000 after purchasing an additional 604,648 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

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.