Keefe, Bruyette & Woods Cuts First Financial Bankshares (NASDAQ:FFIN) Price Target to $34.00

First Financial Bankshares (NASDAQ:FFIN) had its price target trimmed by Keefe, Bruyette & Woods from $36.00 to $34.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.33.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $31.16 on Thursday. The firm has a fifty day moving average of $31.25 and a two-hundred day moving average of $31.55. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 17.60 and a beta of 0.82. First Financial Bankshares has a 52 week low of $28.11 and a 52 week high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $164.72 million during the quarter, compared to analysts’ expectations of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, research analysts forecast that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. First Financial Bankshares’s dividend payout ratio is presently 42.94%.

Insider Transactions at First Financial Bankshares

In related news, CFO Michelle S. Hickox bought 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $29.50 per share, with a total value of $29,500.00. Following the purchase, the chief financial officer owned 11,861 shares in the company, valued at approximately $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnny Trotter bought 4,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, March 5th. The stock was bought at an average cost of $30.02 per share, with a total value of $120,080.00. Following the completion of the purchase, the director owned 955,444 shares in the company, valued at approximately $28,682,428.88. This trade represents a 0.42% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 21,629 shares of company stock worth $681,060. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after purchasing an additional 21,511,608 shares during the period. State Street Corp boosted its stake in First Financial Bankshares by 1.5% in the 4th quarter. State Street Corp now owns 6,140,759 shares of the bank’s stock worth $184,551,000 after purchasing an additional 87,988 shares during the period. Dimensional Fund Advisors LP boosted its stake in First Financial Bankshares by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,715,913 shares of the bank’s stock worth $81,129,000 after purchasing an additional 165,801 shares during the period. Norges Bank acquired a new position in First Financial Bankshares in the 4th quarter worth $51,227,000. Finally, Millennium Management LLC boosted its stake in First Financial Bankshares by 4,145.8% in the 4th quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock worth $51,067,000 after purchasing an additional 1,669,365 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

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.