First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $36.75 Average PT from Brokerages

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $36.75.

FFIN has been the topic of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research report on Monday, July 6th. Benchmark initiated coverage on First Financial Bankshares in a research report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their target price on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $34.78 on Friday. The stock has a 50-day simple moving average of $33.45 and a 200-day simple moving average of $32.23. The stock has a market capitalization of $4.98 billion, a P/E ratio of 18.60 and a beta of 0.81. First Financial Bankshares has a 1 year low of $28.11 and a 1 year high of $38.12.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $172.76 million for the quarter, compared to analysts’ expectations of $173.03 million. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. During the same period in the previous year, the company posted $0.47 earnings per share. Analysts predict that First Financial Bankshares will post 2.04 earnings per share for the current year.

First Financial Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a $0.22 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s dividend payout ratio (DPR) is currently 47.06%.

Insider Transactions at First Financial Bankshares

In other news, Director Murray Hamilton Edwards acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the director directly owned 44,634 shares of the company’s stock, valued at $1,480,956.12. The trade was a 2.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 21,511,608 shares in the last quarter. Norges Bank acquired a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $51,227,000. Millennium Management LLC lifted its stake in First Financial Bankshares by 4,145.8% in the fourth quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock valued at $51,067,000 after buying an additional 1,669,365 shares during the last quarter. Invesco Ltd. grew its position in First Financial Bankshares by 170.9% in the 2nd quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after purchasing an additional 694,534 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in First Financial Bankshares by 460.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank’s stock valued at $15,032,000 after acquiring an additional 413,376 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.