First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have received a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $35.80.

Several analysts recently issued reports on the company. Hovde Group initiated coverage on First Financial Bankshares in a report on Friday, September 11th. They issued a “market perform” rating and a $36.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. Benchmark started coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective on the stock. Weiss Ratings lowered shares of First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Finally, Piper Sandler started coverage on shares of First Financial Bankshares in a research note on Thursday, August 27th. They issued a “neutral” rating and a $35.00 price target on the stock.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Michael Denny bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $34.66 per share, with a total value of $103,980.00. Following the purchase, the director directly owned 6,500 shares of the company’s stock, valued at approximately $225,290. The trade was a 85.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Ronald David Butler II sold 15,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer owned 152,223 shares of the company’s stock, valued at $5,320,193.85. This trade represents a 8.97% decrease in their position. The SEC filing for this sale provides additional information. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently bought and sold shares of FFIN. Versant Capital Management Inc raised its stake in shares of First Financial Bankshares by 8.4% in the 2nd quarter. Versant Capital Management Inc now owns 3,824 shares of the bank’s stock worth $132,000 after buying an additional 295 shares in the last quarter. Smart Money Group LLC boosted its stake in 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 buying an additional 354 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in 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 buying an additional 356 shares in the last quarter. State of Michigan Retirement System grew its holdings in First Financial Bankshares by 2.0% during the first quarter. State of Michigan Retirement System now owns 31,363 shares of the bank’s stock worth $924,000 after acquiring an additional 600 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in First Financial Bankshares by 2.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,751 shares of the bank’s stock worth $788,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 0.1%

Shares of FFIN opened at $31.43 on Friday. The stock has a 50 day moving average of $33.40 and a 200-day moving average of $32.94. First Financial Bankshares has a 52 week low of $28.11 and a 52 week high of $36.52. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 16.81 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The firm had revenue of $172.76 million for the quarter, compared to analysts’ expectations of $173.03 million. During the same quarter last year, the company posted $0.47 earnings per share. On average, sell-side analysts predict that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 14th. First Financial Bankshares’s dividend payout ratio is 47.06%.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.